Number of counterfeit banknotes down last year but value higher

The number of counterfeit banknotes detected in the Czech Republic fell last year. Some 7,800 fake notes were discovered, down almost 1,500 on 2005. However, the total value of counterfeit money found in 2006 was up compared to the previous year, said the Czech National Bank. A spokesperson said there was one counterfeit note to every 200,000 real notes in circulation in the Czech Republic; the European Union average is one fake note to 20,000 genuine ones.

Author: Ian Willoughby