Bundesbank balance sheet: Less and less counterfeit money in circulation

Due to sophisticated security features and the corona restrictions, the Bundesbank is withdrawing fewer and fewer flowers. The forgeries discovered are often “film money”.

In the first half of 2021, the Bundesbank registered around 21,400 counterfeit euro banknotes. They had a face value of one million euros. The number of counterfeits fell by 13 percent compared to the second half of 2020. The number of counterfeit coins fell even more sharply, namely by 35 percent to 14,600. The Bundesbank sees this as a positive development.

Bundesbank board member Johannes Beermann attributes the decline in counterfeit money to the restrictions as a result of the corona pandemic. For example, restaurant and fair visits were canceled, and shopping was only partially possible, says Beermann. Cash traditionally plays a major role there. “Because social life was largely reduced, the counterfeiters also had difficulties getting the wrong coins or bills to the man or woman,” said the Bundesbank executive.

New banknotes are becoming more and more forgery-proof

The Corona crisis is thus reinforcing an existing trend: For years, criminals have found it increasingly difficult to forge euro bills because they are becoming more and more forgery-proof. The second generation banknotes, the so-called European series, were equipped with increasingly complex security features and have now been introduced in all denominations. For example, with many bills there is a window on the right in the silver hologram strip. If consumers hold them up to the light, the portrait of the mythological figure Europe appears there.

In purely mathematical terms, there are only five false banknotes for every 10,000 inhabitants in Germany, while in the rest of Europe there are an average of ten. “That puts us in a good position by comparison,” says Beermann, who is responsible for cash at the Bundesbank. The good investigative work of the police and the public prosecutor’s offices contribute significantly to this. German investigators, for example, only managed to put “DarkMarket”, a huge trading center for counterfeit money on the Internet offline, only at the beginning of the year.

Twenty most forged bill

For years the “fake fifty” was the most popular among counterfeiters, but now the fake twenty has just overtaken it. In the first half of 2021, it made up 41 percent of all counterfeits, making it the most counterfeit note – for the first time. “That probably has to do with the fact that we tend to pay for everyday items, such as groceries, in cash rather than higher-priced goods such as shoes and clothing,” said Bundesbank board member Beermann.

The fakes are often easy to spot. This is what is known as film money, which is used as a prop in films and in the theater. Usually the words “MovieMoney” or “Prop Copy” are even printed on the banknotes. “Sometimes the forgers paint over the labels and then add the signature of the former ECB President Mario Draghi,” explains Beermann.

According to the Federal Criminal Police Office, almost every second counterfeit note in Germany is now film money. As can be seen from the current federal situation report on the subject of counterfeit money crime, the notes come primarily from providers in China. They offered the counterfeit money or the related materials on the Internet and sent it to Germany by post.

According to the Bundesbank, the counterfeit coins are mainly two euro coins. It is said that consumers could easily recognize them by touching them. Because the coins have no minting.

There is no substitute for counterfeit money

The Frankfurt kiosk owner Daler Singh has already seen for himself how quickly one can fall for counterfeit money. Last year two teenagers stood in front of him and wanted to buy alcohol, whiskey with cola and other hard spirits. When they gave Singh a twenty-euro note, he was startled: “The note felt like paper,” says Singh. And he was brighter than other twenties.

The two customers were already up and away with their drinks. When Singh tried to pursue them, they sprayed pepper spray in his eyes. He called the police and filed a complaint against unknown persons. He has not received any compensation to this day, as there is no substitute for counterfeit money. And so the kiosk owner can only advise others: “You should first accept the money and then hand over the goods – and above all check the bills carefully.”

Feeling and tilting

This is also recommended by the Bundesbank and the Federal Criminal Police Office. Consumers should definitely pick up banknotes and feel the grip and firmness of the paper, including touching reliefs. When you hold it up to the light, the portrait of Europa should appear in shadow. If the notes are tipped, the hologram elements and also the emerald number on them should change.

False banknotes and coins should be handed in to the police immediately. Otherwise important information about the counterfeiters will be lost. Anyone who consciously puts counterfeit money back into circulation is liable to prosecution.