Counterfeits are on the rise but are easy to identify

A total of 2,398 counterfeit and altered Czech banknotes and coins of various denominations and versions were seized in the Czech Republic in 2014, an increase of 353 compared to 2013. Their value was CZK 2,221 million. Most of them were poor-quality fakes.

“The quality of Czech banknotes and their security features is high. Not surprisingly, therefore, most counterfeits are easy for the public to identify at first glance. Moreover, the high level of security of our banknotes makes counterfeiters’ work much harder,” said CNB Bank Board Member Lubomír Lízal.

The CZK 1,000 and CZK 500 notes have long been the most counterfeited denominations. They account for 63% of all seized banknotes. In addition, a higher proportion of CZK 100 and CZK 200 counterfeits was observed compared to 2013. They accounted for 24% of the total (as against 14% in 2013). As usual, most counterfeits of Czech banknotes were seized in Prague (1,028).

“The quality of the counterfeits was unchanged from previous years. Virtually all the counterfeit Czech banknotes can be rated as poor or unskilled on the quality scale. Such counterfeits usually contain either no protective elements or only simple imitations of them. However, greater attention should be paid to foreign banknotes, as good counterfeits are more frequent among them, and ordinary consumers are less aware of their security features,” added Lubomír Lízal.

However, the number of counterfeit and altered Czech banknotes is still negligible compared to the number of banknotes in circulation.

In 2014, 3,063 counterfeit foreign banknotes and coins were seized in the Czech Republic, up by 1,978 on 2013. Their value converted according to the exchange rate list as of 31 December 2014 was just over CZK 10 million.

Tomáš Zimmerman, CNB spokesman

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