In a note published on its website, the BdP stated that “the number of counterfeit banknotes seized continues to be residual in relation to the number of banknotes in circulation”.

The largest number of counterfeit banknotes was €50 (3,436) and €20 (2,486), with 524 €100 notes, 291 €200 notes and 479 €500 notes also seized.

The regulator also noted that the seized counterfeits were of differing quality but could be identified by touching, observing and tilting the banknote to check its security features without using any verification tool.

The BdP also stated that it was important to know how to recognise the authenticity of banknotes when they are received, as it is not possible to exchange a counterfeit note for a genuine one.