CNB: Be vigilant for counterfeit money
The Czech National Bank (CNB) identified 3,539 Czech banknotes and coins worth CZK 5.648 million as counterfeit in 2023. As in the past, most of them were found in Prague (1,019), followed by Klatovy (298) and Karlovy Vary (273). There were more counterfeit banknotes than coins. The number of fake twenty-koruna coins also increased. The CNB seized 2,419 more counterfeits than in 2022.
The Czech National Bank seized a total of 3,539 counterfeit and altered banknotes and coins in 2023, of which 2,146 were banknotes and 1,393 coins.
“Czech banknotes and coins are very well protected against counterfeiting, and their security features are highly effective,” said CNB Bank Board member Karina Kubelková, who oversees the activities of the Czech National Bank’s Cash Department.
Counterfeit banknotes
The CNB identified 2,135 Czech banknotes worth CZK 5.6 million as counterfeit in 2023. More than half of them were two-thousand-koruna notes (57%), followed by five-thousand-koruna notes (28%) and one-thousand-koruna notes (9%).
CNB experts gave most of the counterfeit banknotes (eight out of ten, or 1,728) a grade of 4 on a five-point security scale (similar to the marking system in Czech schools, with a grade of 5 being the worst). These counterfeits either had no security features or only unskilled imitations of them. In second place were grade 5 banknotes, i.e. banknotes whose reverse side and face side orientation were wrong, monochrome banknotes and one-sided banknotes. In 2023, the CNB seized a total of 395 of these banknotes.
The CNB also seized eleven altered banknotes, i.e. real banknotes altered to show a higher numerical and/or written value. Five of them were one-hundred-koruna notes, three were two-hundred-koruna notes, two were one-thousand-koruna notes and one was a five-hundred-koruna note. The workmanship of all the altered banknotes was again of quite a low standard.
“You can check the authenticity of your banknotes yourself in three steps: feel it, look at it against the light and tilt it. By simply holding the banknote, you can distinguish between paper made of cotton and ordinary office paper as typically used in counterfeit banknotes,” said CNB Bank Board member Karina Kubelková, adding: “What’s more, a genuine banknote is printed using multiple printing techniques, one of which is intaglio. Therefore, it is never entirely smooth to the touch. If you hold a genuine banknote up to the light, you can see the watermark, the windowed security thread and the front-to-back register. When the banknote is tipped against the light, you can see several optically variable colour elements.”
Counterfeit coins
The CNB seized 1,393 twenty-koruna coins worth a total of CZK 27,860 in 2023. Counterfeits can be distinguished by the relief, which deteriorates from the centre to the edge of the coin. The counterfeit twenty-koruna coin has a wavy edge with visible grooves. It is a good quality counterfeit Czech coin.
Imitations
The CNB also seized 1,033 imitations of banknotes and coins in 2023. These included theatre and film props, promotional items and souvenirs, teaching aids and vouchers for discounts on goods and services, i.e. copies of money which were not produced to be put into circulation.
Foreign currency counterfeits
In 2023, the CNB also seized a total of 766 counterfeit and altered foreign banknotes and coins in the Czech Republic. These were mostly were fake euros (525) and US dollars (238). Most of the euros were rated at grade 3 and most of the fake dollars at grade 2 on the security scale. In general, fake foreign banknotes and coins have long been characterised by better workmanship.
It is a criminal offence to intentionally put counterfeits into circulation. Suspect banknotes and coins may not be used for payment and must be handed over to the Czech Police, who will forward them to the CNB for authenticity analysis. People have the right to refuse money they believe to be counterfeit, as it is seized without compensation.
Štěpánka Filipová
CNB spokesperson