dw.com
Rise in Counterfeit Banknotes and Coins in Germany in 2024
German authorities removed 72,400 counterfeit banknotes and 141,300 counterfeit coins from circulation in 2024, representing a 28% increase in banknotes and a 22% increase in coins compared to 2023; however, financial losses from counterfeit banknotes decreased by 12% to €4.5 million due to the increase in low-value forgeries.
- What is the impact of the significant increase in counterfeit banknotes in Germany in 2024?
- In 2024, German authorities removed 72,400 counterfeit banknotes from circulation, a 28% increase from the previous year. Despite this rise, the total loss decreased by 12% to €4.5 million due to a higher volume of low-denomination forgeries.
- How did the change in the type of counterfeit banknotes affect the overall financial losses?
- The increase in counterfeit banknotes is attributed to criminals using simpler, lower-value forgeries. This strategy, while increasing the number of counterfeit notes, reduced the overall financial damage. The most common counterfeit note remained the €50 bill (40% of confiscated fakes).
- What are the implications of the rise in counterfeit coin circulation, and what measures can be taken to counteract this trend?
- The rise in counterfeit coins (141,300 in 2024 vs 115,900 in 2023), particularly €2 coins, suggests organized counterfeiting operations. The Bundesbank's recommendation to use the "feel, see, tilt" method for banknotes and a magnet test for coins highlights the need for public vigilance against increasingly sophisticated forgery techniques.
Cognitive Concepts
Framing Bias
The article presents the information in a relatively neutral manner. While it highlights the increase in counterfeit currency, it also emphasizes that the overall damage remains moderate and provides detailed information on how to detect counterfeit money. The headline, if one existed, would significantly influence the framing. Without a headline, the framing is descriptive rather than overtly alarmist or dismissive.
Language Bias
The language used is largely neutral and objective. Terms like "simple forgeries" and "low denomination" are descriptive and avoid emotionally charged language. The use of quotes from the Bundesbank official also adds to the neutrality.
Bias by Omission
The article focuses primarily on the number and types of counterfeit banknotes and coins seized, the methods used by criminals, and recommendations for detection. However, it omits discussion of the economic impact of counterfeit currency on businesses and the broader economy. It also doesn't explore the international aspects of counterfeit production and distribution networks, or the effectiveness of law enforcement efforts in combating counterfeiting.
Sustainable Development Goals
The article highlights a decrease in the total monetary loss from counterfeit money despite an increase in the number of counterfeit bills. This suggests that the methods used to create and circulate counterfeit money are becoming less sophisticated and impacting lower denominations, thus mitigating the disproportionate impact on vulnerable populations who might be more susceptible to financial losses from higher value counterfeits. The focus on detecting and removing counterfeit money aims to protect consumers and maintain the integrity of the financial system, promoting fair financial practices and reducing economic inequality.