According to a report in the Diario de Noticais almost 8,000 counterfeit euro banknotes were withdrawn from circulation in Portugal last year, 9.7% less than in 2015, with the balance of 20 euros being more counterfeit, Banco de Portugal (BdP) reported today.

The bank regulator reports that the 20 euro note “remains the most counterfeit”, accounting for about 50% of counterfeit notes withdrawn from circulation. Last year, 3,876 unfavourable notes of 20 euros were seized, compared to 4,755 seized in 2015.

Soon thereafter, the 50 banknotes, denomination in which 2,699 counterfeits were seized, compared to 2,406 during the past year.

In a note, Banco de Portugal considers that the number of counterfeits seized in Portugal “continues to be residual”, when compared to total banknotes in circulation.

According to the communiqué of the European Central Bank (ECB), also published on the page of the Bop in the second half of last year, 353,000 counterfeit euro banknotes were withdrawn, a slight increase compared to the first half and 20, 7% less than in the second half of 2015.

The € 20 and € 50 banknotes accounted for about 80% of counterfeits, with € 50 to lead counterfeits.

The majority (93.6%) of counterfeit notes were detected in euro area countries, with around 5.4% of notes being seized in non-euro area Member States of the European Union and 1% In other parts of the world.