Unlawfully produced coins and banknotes of a central bank. The reproduction of older coins is not legally considered counterfeit money, but is regarded as fraudulent falsification or fraud when put into circulation. – The ECB publishes statistics on counterfeit money recovered on an ongoing basis. Compared with other European countries, Germany has a very low level of counterfeit money. In 2013, five counterfeits were recorded for every 10,000 inhabitants; the 20-euro bill was the most widespread counterfeit. This figure is many times higher in other countries, such as Greece and Cyprus. The reason for this is that in some countries the pressure of investigation into counterfeiting offenses is low and the punishment is low. This causes the perpetrators, most of whom are organized criminals, to avoid Germany and to smuggle the counterfeits into circulation in other euro countries. – Counterfeit money is to be distinguished from damaged, (partially) destroyed banknotes that are no longer fit for circulation. – See banknote value restriction, cash management, blossoms, Brücke-Abneysches phenomenon, doublé coin, counterfeits, money, damaged, money, evil, reconstruction, security strip, subferrates. – Cf. 2007 Annual Report of the Deutsche Bundesbank, p. 106 (new security features for euro bills), pp. 107 f. (contracts with banks regarding the issue of untested banknotes), 2008 Annual Report of the Deutsche Bundesbank, p. 105 (increase in counterfeits; overview), 2008 Annual Report of the ECB, pp. 135 et seq. (666,000 counterfeit euro banknotes were submitted in 2008 alone!), ECB Annual Report 2011, p. 103 et seq. (overview of counterfeiting; counterfeit prevention), and the respective ECB Annual Report, chapter “Central bank operations and activities.”
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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