The Bank of Israel has filed its first civil lawsuit against counterfeiters in an attempt to increase deterrence against those looking to forge banknotes.

“This is a relatively unconventional move,” Dr Ilan Steiner, head of the currency department at Israel’s central bank, told Central Banking. “The suit will send a clear and deterring message that in addition to criminal law, counterfeiters will also face civil lawsuits for significant amounts.”

This action follows an investigation carried