Average value of counterfeit banknotes rises

UV ink the most common security tool used in battle against fake banknotes

Central banks removed more counterfeit banknotes from circulation over the past 12 months than in the previous year, the Currency Benchmarks 2023 find.

The data reveals an average value of $969,544 was removed from circulation in 33 jurisdictions. The figure is 56.2% higher than the average value of $424,847 worth of counterfeit currencies reported in the 2022 benchmark. A high income European country reported the largest figure by value of $8.1 million. A lower-middle income respondent from

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