Central Banking

UK counterfeit seizures fall for 3rd straight year

The number of counterfeit banknotes in circulation confiscated by the British authorities plummeted by almost a quarter last year. The total face value of counterfeit notes found also fell by a similar degree.

It is the third year in a row that the amount, and the face value of notes, seized has fallen.

The amount of notes seized dropped by 24.5% from 384,000 in 2006 to 290,000. The figure represents 0.013% of the total value of UK banknotes in circulation. Total face value slumped by 23.7% t