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Counterfeit money is currency produced outside of the legal sanction of a state or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient. Producing or using counterfeit money is a form of fraud or forgery, and is illegal in all jurisdictions of the world
The circulation of euro banknotes and coins in the 19 euro area countries and in several third countries requires concerted international efforts to protect the currency from counterfeiting.
According to the European Central Bank, counterfeiting has resulted in financial damage of at least EUR 500 million to the European Union’s economy since the introduction of the currency in 2002. A new law has been adopted to protect the euro and other currencies against counterfeiting.
The sharing of data among countries and the financial sector is essential in order to combat the counterfeiting and distribution of currency. We facilitate the exchange of information on operational matters, such as the seizure of counterfeit notes and the closure of illegal print shops.
24 Οκτ 2022 · Federal and state laws prohibit a variety of activities related to counterfeit currency. A conviction for counterfeiting currency can result in a lengthy prison sentence and a substantial fine. An experienced criminal defense lawyer can evaluate a case's strengths and weaknesses.
The global acceptance of the euro as a stable currency with low rates of inflation makes it an attractive currency for counterfeiters. Euro banknotes, the common currency of the 19 euro area countries, are produced with sophisticated printing technology. They also have a number of prominent security features.
Complementary, EU legislation, such as Directive 2014/62/EU seeks to repress euro counterfeiting through criminal law measures. National authorities are responsible for authentication, detection and withdrawal of euro coins unfit for circulation.
