The European Central Bank (ECB) reported an increase in counterfeit activity for the first half of 2008, which is on the heals of 2007’s latter half increase. 312,000 fake banknotes were removed from circulation representing an increase of 5.4 percent.

The ECB noted counterfeit banknotes increased since the second half of 2007 by 5.7 percent. However, they went on to say:

"When the figures…are compared with the number of genuine euro banknotes in circulation (on average 11.5 billion during the first half of 2008), the quantity of counterfeits is very small indeed.

Excluding 2007, the trend has been a reduction in fake notes during a year’s second half. Should that happen, total counterfeits in 2008 could decreased compared to previous years. However, that would appear unlikely given this year’s already high numbers.

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The European Central Bank (ECB) reported an increase in counterfeit activity for the second half of 2007. 296,000 fake banknotes were removed from circulation for an increase of 31,000 notes over the first six months of 2007.

The ECB noted counterfeiting was also up in the second half of 2007 compared to the second half of 2006. However, they went on to say:

… it is still within the bounds of the pattern established over the last few years …

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