Number of Counterfeit Euro Banknotes Decreases in Cyprus

In 2024, a total of 571 counterfeit euro banknotes were seized in Cyprus. This represents an 11% decline compared to the previous year. Despite this decrease, authorities are urging the public to remain alert and double-check banknotes when handling cash transactions.

According to the Central Bank of Cyprus, the most frequently counterfeited denomination was the 50-euro note, accounting for 36.8% of all detected fake banknotes.

The Central Bank assures that, when compared to the vast number of genuine euro notes in circulation, the overall amount of counterfeit currency remains low. Additionally, the European Central Bank reported that around 554,000 counterfeit euro banknotes were seized across the eurozone in 2024, marking an 18.6% increase from the previous year. The most commonly forged denominations were the 50-euro and 20-euro bills, which together made up 79.6% of all counterfeits.

The overwhelming majority of counterfeit notes (97.8%) were discovered within the eurozone, while 1.3% were found in EU countries outside the eurozone, and 0.9% were located elsewhere in the world.