By Andrea Hargraves 
Frauds with 200 euro banknotes totaled 3,334 cases last year, compared to 187 cases in 2022. With 100 euro banknotes they totaled 5,353 cases, compared to 947 cases the previous year, the Bank of Portugal reveals.
16,723 counterfeit banknotes were confiscated in Portugal in 2023, representing 3.68% of the total seizures in the European system. The Central Bank reveals that “the amount of counterfeit banknotes is still remaining compared to the banknotes in circulation amounting to approximately 30 billion euros.” In 2022, the number was 10,732.
On Monday, the Bank of Portugal (BdP) released the traditional annual information on the seizure of counterfeit euro banknotes in circulation in Portugal.
The number of counterfeit products seized in circulation increased compared to the previous year. Contributing to this increase were seizures in fraud cases involving 100 and 200 euro banknotes.
“These seizures justify that the €100 note was the most confiscated in Portugal, changing the trend seen in previous periods,” reveals the Bank of Portugal.
Frauds with 200-euro banknotes totaled 3,334 last year, compared to 187 in 2022. And with 100-euro banknotes, the total was 5,353, compared to 947 the previous year.
Counterfeit €50 banknotes also increased in 2023, bringing their total to 2,406, compared to 2,220 the previous year.
Confiscations of counterfeit €500 banknotes decreased in 2023 compared to 2022, from 243 to 100 banknotes.
The seized counterfeit products can be identified using the “touch – look – tilt” method.
“It is important that users check banknotes when they receive them, as counterfeit money is not refundable and cannot be used for payments (passing a counterfeit banknote constitutes a crime),” warns the Mario Centeno-led organization.
The Bank of Portugal and the European Central Bank disclose information about the characteristics and security elements of euro banknotes on their websites. Banco de Portugal also offers training in this area, which is suitable for different audiences.