The phenomenon of counterfeit banknotes, unfortunately, still exists today. The data for the year 2023 was released by the European Central Bank which highlighted: ‘460 thousand fake euro banknotes withdrawn from circulation’ last year, confirming a problem which, although diminished, still exists. It has been ascertained that in 70 percent of cases the falsifications concern the 20 and 50 euro denominations.
Many prefer paying in cash
Yet Italy, unlike other countries, continues to prefer the Cash. It is certainly a practical, fast and also reliable means of transport. However, the fear of incurring counterfeit money remains and if many commercial activities are organized with special machines that ascertain the authenticity of banknotes, it is more difficult for ordinary people who may have a little more difficulty in detecting counterfeits.
How to avoid getting a counterfeit banknote
To support people who may find themselves in difficulty, there are rules to follow so as not to encounter fakes. There are three key words suggested by the European Central Bank to carry out this assessment and they are: touch, look and move. One of the most reliable methods when in doubt is compare the suspicious banknote with an authentic one. But attention must remain high: the ability of counterfeiters to produce counterfeit euros. The greatest fear comes from criminal organizations which, over time, seem to have gained a certain expertise in the matter.
There are indicators visible to the naked eye
However, let’s see in more detail how to do it defend themselves from the phenomenon. How can you tell if a banknote is counterfeit? Meanwhile, looking at it against the light, the watermark must be evident, furthermore the 20 and 50 euros have a window in the upper part with the portrait of Europe which is transparent. If that wasn’t enough, if you move the banknote you will be able to see that the green number located at the bottom left changes color to dark blue. These are all checks that can be done with the naked eye, even if there are others that require more detailed investigation.
What to do if you come into possession of a fake banknote
If you come into possession of a counterfeit banknote, you must absolutely not try to use it to avoid criminal consequences. Since the spending of counterfeit coins constitutes a crime punishable by law. Instead, it is advisable to have the suspicious banknote examined by an expert, who is a bank or post office employee, who, if they were to find that they were actually dealing with a fake banknote, would send it to the Bank of Italy.
