Value of counterfeits drops significantly, Czech money is safe

A total of 4,541 counterfeit and altered Czech banknotes and coins, worth CZK 2.94 million, were seized in the Czech Republic in 2011. “The total value of counterfeit Czech banknotes has dropped again,” said CNB Bank Board member Pavel Řežábek.

“Most of the counterfeits can be recognised by the layman,” added Mr Řežábek. “To detect a counterfeit, all you need to do is check the basic protective elements in three simple steps: by rubbing the note between your fingers, by holding it against the light and by tipping it against the light.” The CNB provides the public with advice on checking the protective elements of Czech banknotes in numerous information materials, such as animated presentations of banknotes and coins on the CNB website, the Czech Money app for iPod, iPhone and iPad, lenticular cards and leaflets.

Of the 4,541 counterfeit and altered Czech banknotes and coins seized last year, 4,499 were counterfeit banknotes, 21 were counterfeit coins and 21 were altered banknotes and coins. They were worth a total of CZK 2.94 million. By comparison, 4,986 counterfeit and altered banknotes and coins, worth more than CZK 4.8 million, were seized in 2010.

In recent years, counterfeiters have mostly concentrated on CZK 500 and CZK 1,000 banknotes, and 2011 was no exception. Every second seized counterfeit was the CZK 500 denomination, while one in five was a CZK 1,000 note.

As in previous years, the vast majority of counterfeit banknotes were printed on inkjet printers (96%). Using a five-point security scale, 73% of Czech counterfeits can be given a grade 4 or 5, i.e. poor or unskilled. Such counterfeits usually contain no protective elements or only simple imitations of them.

A total of 1,461 counterfeit foreign banknotes, worth CZK 3.1 million, were seized last year. Most of them were counterfeit USD 100 banknotes, while euro counterfeit banknotes were mostly EUR 100, EUR 50 and EUR 20 denominations. In all, 6,002 counterfeit and altered Czech and foreign banknotes and coins, worth CZK 6.1 million, were seized in the Czech Republic (5,170 in circulation and 832 by the Czech police before counterfeiters paid with them).

In addition to counterfeit banknotes and coins, 6,878 imitations of Czech and foreign banknotes and coins were seized last year.

In 2011, 648,000 counterfeit euro banknotes and almost 159,000 counterfeit euro coins were detected in the European Union. There are around 43 counterfeits per million euro banknotes. For comparison, there were only 13 counterfeits per million Czech banknotes.

2011 – Counterfeit and altered banknotes and coins seized in circulation and by the Czech police in the Czech Republic

2010 – Counterfeit and altered banknotes and coins seized in circulation and by the Czech police in the Czech Republic

Marek Petruš
CNB spokesman