Germany reports surge in counterfeit euro notes, citing China, Türkiye as key sources

Germany witnessed a sharp rise in counterfeit euro banknotes, with the number of fake bills in circulation increasing by 28% over the past year to 72,400 in 2024, the country’s central bank reported.

According to a statement released by the Bundesbank on Feb. 21, overall financial losses caused by counterfeit currency decreased by 12% as forgers shifted to producing lower-denomination notes with simpler counterfeiting techniques.

“Overall, the incidence of counterfeit money remains moderate: statistically speaking, in 2024, there were nine counterfeit banknotes per 10,000 inhabitants,” said Burkhard Balz, a member of the Bundesbank’s Executive Board.

While the share of counterfeit €5, €10, €20, €50, and €100 banknotes rose by 47%, 37%, 66%, 35%, and 47%, respectively, the number of fake €200 and €500 notes detected fell by 34% and 71%.

Meanwhile, the European Central Bank reported that 554,000 counterfeit euro banknotes were identified across the EU, with €20 and €50 bills being the most frequently forged.

‘Counterfeit bills come from China or Türkiye’

According to the German news outlet tagesschau.de, the Federal Criminal Police Office (BKA) stated that China and Türkiye are leading sources of counterfeit euro notes. The agency noted that forgers distribute fake currency globally through online marketplaces and trading platforms.

The BKA also highlighted that counterfeit money is primarily used by teenagers and young adults, who exploit it to purchase inexpensive items to receive as much legitimate change as possible. Another common tactic involves using fake notes to buy high-value goods such as smartphones or gaming consoles from private sellers.

In December 2024, a counterfeit dollar crisis erupted in Türkiye, bringing foreign exchange transactions to a near standstill in several parts of the country.