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Euro coin counterfeiting in 2005; 96.000 counterfeit coins located compared with 63bn in circulation
13/01/2006 Finfacts Ireland	Back
By Finfacts Team Jan 13, 2006, 14:23 In 2005 an increasing, yet low, number of counterfeit euro coins was removed from circulation mainly by financial institutions while the police authorities continued dismantling illegal mints. In 2005 about 96.000 counterfeit euro coins were removed from circulation, mainly by National Central Banks. This compares with 74.564 counterfeits detected in circulation in 2004 and 26.191 in 2003. The total number of counterfeit euro coins removed from circulation is by far lower than the overall number of counterfeit coins of legacy currencies before the introduction of the euro. These counterfeits may be deceptive in hand-to-hand transactions, especially the 2-euro counterfeits. However, their number is small compared to the 63 billion circulating (genuine) euro coins and they are not a cause of concern for the public. Moreover, these counterfeit coins should generally be rejected by properly adjusted vending and other coin-operated machines. Counterfeit euro coins detected in circulation, 2002 - 2005 50-cent 1-euro 2-euro Total 2002 28 1.281 1.030 2.339 2003 185 6.318 19.688 26.191 2004 858 9.103 64.603 74.564 2005 3.535 12.473 79.951 95.959 TOTAL 4.606 29.175 165.272 199.053 In addition, 3.557 counterfeit euro coins were seized before circulation, during law enforcement operations. According to announcements of the competent national authorities, three illegal euro coin workshops were dismantled in 2005, one in Hungary, one in Poland and one in Bulgaria. Overall, 11 illegal coin workshops have been dismantled since the introduction of the euro coins. The most counterfeited euro coin denomination is the 2-euro. The German national side is most frequently reproduced, followed by the sides of France, Spain, Belgium, Italy, Austria, Netherlands, Ireland, Greece and Luxembourg. As far counterfeit euro banknotes are concerned, around [286.000 pieces] were withdrawn from circulation in the second half of 2005 according to the European Central Bank. Background In carrying out its responsibilities regarding the protection of the euro banknotes and coins against counterfeiting, the Commission (OLAF) collaborates closely with the European Central Bank (ECB), Europol, Interpol and the National Competent Authorities. The roles and responsibilities of the European institutions and bodies are distinct and complementary in the protection of the euro. In the European Commission, the European Anti-Fraud Office (OLAF) prepares legislative initiatives, monitors and advises Member States in the implementation of the European level legislation regarding counterfeiting of euro banknotes and coins. It responds to questions and other requests for information by the European Parliament. OLAF manages the Pericles programme for the protection of the euro banknotes and coins, in the framework of which it organises training and provides financial support and technical assistance to the competent authorities of Member States. Finally, OLAF is responsible for the technical protection of the euro coins and the management of the European Technical & Scientific Centre (ETSC) which carries out the analysis and classification of new types of stamped counterfeit euro coins. In particular, the Council decided, in December 2003, that the Commission ensures the functioning of the ETSC and the co-ordination of the activities of the competent technical authorities to protect the euro coins against counterfeiting (OJ L325, 12.12.2003, page 44). In October 2004, the Commission decided to establish formally the ETSC in the European Anti-fraud Office (OLAF) (OJ L19, 21.1.2005, page 73). Against the background of an increasing number and sophistication of the counterfeit euro coins, the Commission issued on 27 May 2005 a Recommendation (OJ L 184, 15.7.2005, page 60) concerning the authentication of euro coins aimed at ensuring that circulating euro coins are genuine. The Recommendation provides technical procedures for removing from circulation counterfeit euro coins and other euro coin-like objects and establishes a common framework for the reimbursement of euro coins unfit for circulation. With a view to enhancing the protection of euro coins against counterfeiting the Commission/OLAF organised on 28/29 November 2005 a conference on the interaction between investigation and technical/scientific analysis with regard to counterfeit euro coins. The conference, financed under the Pericles programme, took place in Paris at the Monnaie de Paris (French Mint) which provides facilities for the analysis of counterfeit euro coins by the ETSC. It brought together around 50 police investigators and technicians from EU Member States and third countries together with representatives from OLAF, Europol, Interpol and the ECB. The experts agreed on the importance of closer cooperation involving national competent authorities, Europol and the ETSC, better communication and training for investigators. The European Central Bank (ECB) performs a technical analysis of counterfeit euro banknotes of a new type at the Counterfeit Analysis Centre located on the premises of the ECB, stores the technical and statistical data on counterfeit banknotes and coins in a central database, also located at the ECB, and disseminates the relevant technical and statistical information to all those involved in combating counterfeiting. Europol supports the Member States’ law enforcement services in preventing and combating serious organised crime by facilitating the exchange of information and providing operational and strategic analysis, as well as expertise and technical support for investigations and operations within the EU. Europol maintains a central database for law enforcement information and provides the means for financing police investigations in the domain of euro counterfeiting. Europol will become the EU central office for combating euro counterfeiting, when Member States formally assign this responsibility.

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