Nicosia: Counterfeit euro banknotes of various denominations withdrawn from circulation in Cyprus increased by 17.1% in 2025 compared to 2024, as per data published on Wednesday by the Central Bank of Cyprus (CBC).
According to Cyprus News Agency, during 2025, 670 pieces of counterfeit euro banknotes were withdrawn from circulation in Cyprus. The £50 note registered the highest rate of counterfeiting in Cyprus, comprising 45.4% of the total counterfeit banknotes.
Simultaneously, the European Central Bank announced that in 2025, approximately 444,000 counterfeit euro banknotes of various denominations were removed from circulation, marking a 20% decline compared to 2024.
The data revealed that the £50 and £20 notes continued to be the most frequently counterfeited banknotes, collectively accounting for 80.2% of the total. Of the counterfeit banknotes, 96.8% were discovered in euro area countries, 2.2% in non-euro area European Union member states, and 1% globally.
CBC emphasized that in comparison with the number of genuine euro banknotes in circulation, the quantity of counterfeits remains very low. Despite the small number of counterfeit euro banknotes, CBC advises the public to exercise caution and thoroughly inspect banknotes during cash transactions.
It is highlighted that the Central Bank of Cyprus and the European Central Bank websites provide information on straightforward methods to verify the authenticity of euro banknotes.