If there's a corresponding bill found in your wallet, retain a sense of modesty.
Revamped Article:
Uh-oh, mate! With the COVID-19 pandemic, there's been a sneaky rise in counterfeit cash swirling around. That's what the folks at the Stiftung Warentest are saying, anyway. They explain that during those lockdown times, counterfeiters found it tough to peddle their phony notes.
Take the European Central Bank, for instance. In 2021, they only busted 347,000 funny money fakes. Compare that to 2024, where they seized around 554,000 counterfeit notes. Scary, isn't it?
Counterfeits on the Rise
Now, the Deutsche Bundesbank clocked over 72,000 bogus Euro banknotes in Germany's payment system alone in 2024. That translates to a whopping 4.5 million euros in fake notes. And guess what? That's an eye-popping 28% increase compared to the previous year!
Out of those phonies, around a third were 20-euro notes. In 40% of cases, it was 50-euro faux pas. Weirdly enough, counterfeit D-Mark notes still pop up now and then, and we can't forget the tiny terrors – counterfeit 2-euro coins. Around 96% of those are phonies, dang it!
Germany's Counterfeit Cash remains Low
Even with the surge, the total amount of fake cash in Germany still remains low. In 2024, there were only nine counterfeit notes per 10,000 inhabitants. For coins, it was 17 phony coins per 10,000 inhabitants.
The Stiftung Warentest thinks the risk of handling counterfeit money is still manageable, though. If you're grabbing cash from an ATM, relax – those bad boys are equipped with detection tech that won't let you take non-circulating money or counterfeit cash.
But when it comes to private purchases of big-ticket items, like a second-hand car, be on your guard. The Stiftung Warentest advises asking the seller to withdraw the cash from the bank in front of you.
Recognizing Counterfeit Money
So, how can you tell if a note is phony? Well, there are plenty of easily identifiable fakes circulating, according to the Stiftung Warentest. Many of these have the words "MovieMoney” or "Prop copy" and kinda resemble a mirror image of the real deal.
The “Feel, See, Tilt” trick can help you spot fakes, too, even without any fancy gadgets. Just give 'em a good once-over, mate. The format, color, or representation might look legit, but "MovieMoney" or "Prop copy" won't have any security features.
Pay Attention to Security Features
Check out the security features on a 20-euro note, for example. It's got a tactile relief on the left and right edges of the front side. Plus, it's got a watermark visible in transmitted light on both the front and back sides, an emerald number on the front side that moves up and down like a charm when tilted, a security thread visible in transmitted light as a dark stripe on both sides, and a portraiture hologram on the front side. Oh, and don't forget that the notes should feel rough and firm!
Tip: Get the full lowdown on the security features for each note on the bundesbank.de website.
With coins, it's a bit simpler: Counterfeits either aren't magnetic or are dangerously magnetic, unlike the real ones. And they often have crappy engravings, which you can see on the edges of the coins.
What if you think you've got a fake? Report it to the cops, mate. Passing it on is illegal, and you'd be in hot water! Just stick the money in an envelope so any potential fingerprints are ready for evidence if needed, advises the Stiftung Warentest.
Fell for a phony? You're outta luck, pal: "The fake bills can't be swapped for the real ones." Sorry about that!
- In the realm of the finance industry, a concerning increase in counterfeit money has been observed, particularly in the technology-driven business sector, with a 28% surge in fake Euro banknotes detected in Germany's payment system in 2024.
- As the world continues to depend on digital platforms for transactions, it is crucial for the finance industry to invest in advanced security measures, ensuring the integrity of all transactions, thus combating counterfeit currency in the rapidly evolving business and technology environment.
