Last year, 848 counterfeit banknotes with a total value exceeding 171,600 euros were discovered in Montenegro, according to Dejan Levičar, head of the National Currency Analysis Center at the Central Bank, in an interview with Radio Montenegro.
He highlights that there has been an increase in the circulation of fake banknotes over the past three years.
“A total of exactly 1,680 counterfeit banknotes have been processed. In 2024, there was an increase of 324 counterfeit notes compared to 2023, or 61.83%. Furthermore, 2023 saw an increase of around 70% compared to 2022, which indicates a rising trend in counterfeit currency,” says Levičar.
In 2024, the most commonly forged banknotes were those of 50 and 100 euros.
“Fifty euro denominations lead the way, making up 47.41% of the counterfeit notes,” he adds.
Modern technology helps in recognizing counterfeit money, Levičar says, but he still recommends that people always check the currency when receiving it.
“It is very important that citizens are able to recognize a counterfeit, and the only way to do so is by paying attention to some of the security features that are present on the banknotes. All these security features can be found on the website of the Central Bank of Montenegro, and they show details that are present on euro banknotes,” Levičar explained.
In cases of suspected counterfeit, the Central Bank, as well as commercial banks and microfinance institutions, are obliged to withdraw the money. If, after a technical analysis, it is confirmed that the money is counterfeit, the police and the prosecution are notified, and they conduct further investigations to determine who introduced the fake money into circulation.
In the Netherlands, there was a 40% increase in counterfeit euro banknotes last year compared to 2023. A total of 24,100 counterfeit notes were removed from circulation, according to the Dutch central bank.
The report mentions that the increase was mainly due to several cases of fraud involving large quantities of counterfeit 200-euro notes. Data from the European Central Bank shows that more than half a million euros worth of counterfeit money was withdrawn from circulation.
