There were 1195 counterfeit euro banknotes discovered in Estonia in 2024, which was 931 more than in the previous year. The only year when a larger number of counterfeit euro banknotes were found in Estonia was 2018, when 1407 counterfeits were discovered. Some 250-500 counterfeits are typically found in Estonia each year, and Estonia remains one of the countries in the euro area where the fewest counterfeits are found.

The number discovered in 2024 was higher than in previous years following one case where a large number of counterfeit banknotes were confiscated from a resident of Estonia. The banknotes confiscated in that incident accounted for a third of all the counterfeits discovered in 2024.

The most common counterfeits in Estonia last year were 20-euro notes, of which 477 were found or about 40% of all the counterfeits found in Estonia. There were 295 counterfeit 50-euro notes registered, and 202 100-euro notes.

Forgeries with altered designs like prop money or movie money were 34% of the counterfeits discovered, and such copies are also more than half of the counterfeits discovered across Europe. The counterfeits discovered in Estonia were mostly not very sophisticated, and only simple methods had been used to produce the imitation notes. This should remind everyone that anybody can easily check the authenticity of a banknote and that careful observation is often all that is needed to identify a counterfeit. The authenticity of a banknote can be checked not only by looking, but also by touching and tilting it. It can also be compared with an authentic note if there is still any doubt.

The security features of the banknotes and how to check them is described on the website of the European Central Bank.

If it is suspected that a banknote or coin is a counterfeit, it should be passed on to the police who will send it to experts for testing.

• For more detailed statistics on Estonia
  see the website of the Estonian Forensic Science Institute.
• ECB press release: Number of counterfeit euro banknotes continues to be low in 2024

For further information:
Viljar Rääsk
Head of Communications
Eesti Pank
6680 745, 5275 055
Email: [email protected]
Press enquiries: [email protected]