MY MONEY – The new 50 euros bank note is coming – Why and How

luxembourg security privacy defense police cyber

keywords: counterfeit banknotes, counterfeiters, tamper-resistant, scam, luxembourg.

 

Remember, when presenting the current euro banknotes, the representative of the European Central Bank (ECB) asserted that they were inviolable and tamper-resistant. Yes, but it was underestimating the ability of counterfeiters to adapt and circumvent the banknotes security marks thanks to an ever more sharp and always less expensive technology, making counterfeit notes difficult to detect. And after the 50 euros counterfeit banknotes circulating in Luxembourg alert at Christmas last year, it became urgent for the ECB to take the lead.

And it is 15 years almost days for days after the disappearance of the national currencies in 2002 that this new banknote is announced. It will be put into circulation on April 4, 2017, the local central banks having to communicate on this arrival.

One fake euro banknote in 2 is a 50 euros bill.

The share of counterfeit euro banknotes has been steadily increasing year over year since its circulation in paper form in 2002. Counterfeit banknotes seized in 2013 (the latest available statistics) amounted to 38.0% of 20 euros and 44.1% of 50 euros banknotes. Almost 1 fake note in 2 is therefore a 50 euros one, a small bill that is easily injected in the trade and which does not attract the attention of traders, the stakes for the ECB and the security of payments is therefore important.

A new 50 euros note, setting up.

The new golden rule is : FEEL – LOOK – TILT. If you follow this rule you are supposed to easily detect a counterfeit note.

The new bill will be put into circulation gradually from 04 April 2017. Each local central bank is responsible for communicating the arrival of this new bill, especially in the case of the Central Bank of Luxembourg (BCL) for its arrival at the Grand-Duchy. A brochure presenting the new cut will be available from mid-March 2017 at the counters of Luxembourg banks and Post offices.

The ECB (via the BCL) plays big in terms of credibility with this release. Bet that this time the banknote will really be a success against the counterfeiters.

Further information at bcl.lu the Banque Centrale Luxembourg website.

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