The Central Bank of Malta has reported a significant increase in the number of counterfeit banknotes detected in 2024. Throughout the year, a total of 1,565 counterfeit euro banknotes were presented to the Bank, marking a sharp rise compared to the exceptionally low figures recorded during the COVID-19 pandemic years.

Despite this increase, the proportion of counterfeit euro banknotes remains negligible relative to the total volume of genuine banknotes in circulation. In 2024, the average number of legitimate euro banknotes circulating in Malta stood at approximately 32.41 million. Furthermore, Malta's share of counterfeit banknotes represents just 0.28 per cent of the total 554,000 counterfeit notes seized across the euro area during the same period.

Among the counterfeit banknotes identified in Malta, mid-range denominations continue to be the most targeted. The €20 note saw a rise in counterfeiting activity, while the share of counterfeit €50 notes decreased. Together, these denominations accounted for 82 per cent of all fake banknotes withdrawn from circulation. Lower denominations (€5 and €10) maintained a consistent share, while higher-value notes remained minimally affected.

The Central Bank of Malta remains vigilant and urges the public to stay alert when handling cash. Most counterfeit notes are easily identifiable due to their lack of security features or the presence of poor imitations. The Bank continues to promote the "FEEL-LOOK-TILT" test as an effective method for verifying the authenticity of euro banknotes.

The Bank also offers support and training for local entities seeking assistance in counterfeit detection. Anyone encountering a suspect banknote is encouraged to contact the Police at (+356) 2294 2120 or the Central Bank of Malta directly at (+356) 2550 6012/13 or via email.