Number of counterfeit notes increases, but Czech currency is still difficult to counterfeit

A total of 6,836 counterfeit and altered banknotes and coins of various currencies and denominations were seized in the Czech Republic in 2021. The number of counterfeits increased by 5,447 compared with the previous year. The rise was caused mainly by a police operation in which a large number of euro banknotes were seized.

There were 1,394 counterfeit and altered Czech banknotes and coins, an increase of 392 on 2020. Their value almost doubled to CZK 2.6 million. While the number of counterfeit banknotes and coins increased slightly, this does not represent a significant change in the context of the ever-increasing amount of circulating currency. The amount of currency in circulation stood at CZK 731 billion at the end of 2021.

The two-thousand-koruna note was again the most frequently counterfeited Czech banknote in 2021. As in previous years, the majority of the counterfeit Czech banknotes seized in 2021 were printed on ink-jet printers – 1,237 counterfeits, nearly twice as many as last year and making up almost 92% of the Czech banknotes seized. Only 27 counterfeits made using colour toner copiers were discovered, 339 less than in 2020. On a five-point security scale, the seized banknotes were most frequently given a grade of 4, i.e. poor quality. Such counterfeits usually contain either no security features or only simple imitations of them.

“While this is the first time in many years we have seen a year-on-year increase in domestic counterfeits, it’s nothing dramatic. Given the total number of banknotes and coins in circulation, and in particular their value, it can still be considered negligible. This confirms that the Czech currency is well protected against counterfeiting. Even so, you shouldn’t forget to check them when you receive them,” said Board Member Oldřich Dědek, who oversees the Cash Department. “As for counterfeit euro banknotes seized in the Czech Republic, it’s their quantity rather than their quality that may attract some attention,” he added.

Counterfeit and altered banknotes and coins seized in the Czech Republic:

There is only around 1.3 counterfeit Czech banknote per 10,000 inhabitants in the Czech Republic. Last year, most were seized in Prague (1,129), followed by Olomouc (44), Brno (30) and Ostrava (24).

Counterfeit and altered foreign banknotes and coins

A total of 5,442 counterfeit and altered foreign banknotes and coins were seized in the Czech Republic in 2021, an increase of 5,055 on the previous year. Their value converted according to the exchange rate list as of 31 December 2021 was more than CZK 39.7 million.

The large rise in the number of counterfeits was caused by a police operation in which 4,781 counterfeit 100 and 500 euro banknotes were seized all at once. The euro counterfeits were technically simple, containing a single serial number and produced on xerographic devices (toner printed). They had no security features. On a five-point security scale corresponding to the marking system in Czech schools, these counterfeits were given a grade of 4 (poor) or 5 (crude).

In the Czech Republic, counterfeiters face up to eight years imprisonment for counterfeiting and altering money. There is a sentence of up to ten years for organised crime groups and larger-scale counterfeiting operations.

Annual increase in currency in circulation

There are two main reasons for the year-on-year increase in circulating currency from CZK 711.9 billion in 2020 to about CZK 731 billion in 2021. During the pandemic, some people created a rainy-day cash fund. As in all difficult times, some businesses also held more cash than in normal times.  

There were around 2.7 billion banknotes and coins in circulation in the Czech Republic at the end of 2021, a year-on-year increase of 3%. The figures exclude commemorative banknotes and coins in circulation.

How to check security features

The CNB offers instructions on how to check the security features of banknotes in the Czech Money mobile app, in interactive educational games, on its website and in information leaflets, for example.

 Markéta Fišerová
Director of the Communications Division and CNB Spokesperson

Related links (available in Czech only):

• Presentation – Counterfeits 2021 (pdf, 1.9 MB)
• Security features of Czech banknotes – ČNBvlog

Interesting facts on the amount of currency in circulation:

• Since the Czech koruna became legal tender on 8 February 1993, the amount of currency in circulation has risen by CZK 702.9 billion from CZK 28.1 billion.
• If we were to lay all the banknotes in circulation lengthways one after the other, an 83,800 km belt would be created. This is the distance twice around the equator.
• The coins currently in circulation weigh over 11,550 tonnes in total. This would fill 557 twenty-tonne wagons.
• The amount of currency in circulation reached:
• CZK 100 billion in May 1995
• CZK 200 billion in June 2000 (an increase of CZK 100 billion in 61 months)
• CZK 300 billion in May 2006 (an increase of CZK 100 billion in 71 months)
• CZK 400 billion in September 2011 (an increase of CZK 100 billion in 64 months)
• CZK 500 billion in November 2015 (an increase of CZK 100 billion in 50 months)
• CZK 600 billion in July 2018 (an increase of CZK 100 billion in 32 months)
• CZK 700 billion in November 2020 (an increase of CZK 100 billion in 28 months)