The global acceptance of the euro as a stable currency with low rates of inflation makes it an attractive currency for counterfeiters.
The total amount of counterfeits found in circulation in 2016 decreased compared to 2015. It was mainly the numbers of the EUR 20 notes that dropped considerably, making the EUR 50 then the most popular amongst counterfeiters. Therefore, following a statement from the European Central Bank (ECB), euro banknotes continue to be a trusted and safe means of payment. The issuing of a new series of banknotes underlines this, as the new design of the euro gives new impetus to paper money. The enhanced security features, especially the window in the higher denominations, make this new series one of the most sophisticated in the world.
Europol works with partners within Europe and across the world to protect the euro from counterfeiting. Within Europe, Europol cooperates not only with police organisations but more frequently with customs agencies too. To tackle the online sale and distribution of counterfeit euros, Europol has created a special working group which includes the European Central Bank, European Commission and some key Member States. This working group addresses the phenomenon on three different levels: prevention and awareness, law making and finally, international police cooperation and support.
As the European Union’s central office for combating euro counterfeiting, one of Europol’s key functions is to act as the worldwide contact point for the subject. Europol is involved in all major euro counterfeiting investigations in the EU, including joint investigation teams, providing financial, forensic support and on-the-spot assistance, in cooperation with the EC3 forensic lab.