European Central Bank Detects Uptick in Fake Euro Banknotes.

The European Central Bank has reported an increase in counterfeit euro banknotes in 2023, indicating a rise in criminal activity following a record low during the pandemic. Despite the increase, the number of fake banknotes withdrawn from circulation remains one of the lowest ever recorded in proportion to genuine ones. The most commonly counterfeited denominations are the €20 and €50 notes, which make up over 70% of the total. The ECB advises the public to remain vigilant and use the "feel, look, and tilt" method to identify fake notes, reporting them to the police or national central bank. The issue of cash is a contentious topic in Europe, with the ECB considering the introduction of a digital euro, although officials deny any intention to replace banknotes and coins. [Extracted from the article]

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