No­table de­crease in euro ban­knote coun­ter­feit­ing in Malta

The Malta Business Weekly - - NEWS -

There was a no­table de­crease in the num­ber of coun­ter­feit euro ban­knotes re­ported to the Cen­tral Bank of Malta in the first half of 2018.

At 391 pieces, the over­all quan­tity of coun­ter­feits with­drawn from cir­cu­la­tion was 17% lower than the ag­gre­gate fig­ure with­drawn in the pre­vi­ous six months (July to De­cem­ber 2017) and also lower than that re­ported in the same pe­riod of 2017 (Jan­uary to June 2017).

When com­pared with the num­ber of gen­uine euro ban­knotes in cir­cu­la­tion in Malta (slightly above 11.16 mil­lion on av­er­age for the first half of 2018), the pro­por­tion of euro coun­ter­feits re­mains in­signif­i­cant. It is also low (0.13%) as a pro­por­tion of the to­tal num­ber of coun­ter­feits seized in the euro area as a whole over the same pe­riod, amount­ing to 301,000 pieces.

Sim­i­lar to the de­vel­op­ments in the euro area, the €20 and €50 con­tinue to be the most coun­ter­feited de­nom­i­na­tions found lo­cally. These two de­nom­i­na­tions to­gether ac­counted for 74.2% of all coun­ter­feits dur­ing the first half of 2018. Dur­ing this pe­riod, the share of the €10 de­nom­i­na­tion also ex­pe­ri­enced a slight in­crease.

The ta­ble be­low pro­vides a per­cent­age break­down by de­nom­i­na­tion, of the to­tal num­ber of coun­ter­feits with­drawn from cir- cu­la­tion in the first half of 2018 com­pared to those with­drawn in the euro area as a whole.

In the area of pro­fes­sional cash han­dlers, the bank has con­tin­ued with its cer­ti­fi­ca­tion pro­gramme through its cash and anti-money laun­der­ing e-learn­ing mod­ules. Ad­di­tion­ally in or­der to sup­port the gen­eral pub­lic, Cur­rency Oper­a­tions per­son­nel are vis­it­ing a sub­stan­tial num­ber of Day Cen­tres to de­liver train­ing on the recog­ni­tion of coun­ter­feit cur­rency.

Not­with­stand­ing the low fig­ures of coun­ter­feits re­ported lo­cally, the Cen­tral Bank of Malta continues to ad­vise the pub­lic to re­main alert with re­gard to the ban­knotes re­ceived in cash trans­ac­tions.

Gen­uine ban­knotes can be eas­ily recog­nised us­ing the sim­ple “FeelLook-Tilt” test, which is de­scribed on the bank’s web­site: https://www.cen­tral­­knotescoun­ter­feit-notes. The bank is avail­able to pro­vide any sup­port, in­clud­ing train­ing to any lo­cal en­ti­ties which may re­quire such as­sis­tance.

Any­one who re­ceives a sus­pect note should con­tact ei­ther the Po­lice by call­ing on 2294 2120; the Cen­tral Bank of Malta on 2550 6012/13 or by send­ing an e-mail on the bank’s email ad­dress nc­cmt@cen­tral­

Newspapers in English

Newspapers from Malta

© PressReader. All rights reserved.