Bulgaria Records First Case of Counterfeit Euro: How to Spot and Handle Fake Banknotes

Bulgaria has registered its first case of counterfeit euro banknotes, highlighting the challenges posed by the new currency, which remains unfamiliar to many. Some of the fake notes are of relatively high quality, making them difficult to identify, warns currency dealer Tavex.

Using or circulating counterfeit money is a criminal offense. If someone suspects a euro banknote is fake, the safest course of action is to take it to the nearest bank branch or report it to the police. There, authorities will examine the note and issue an official report. If the banknote is genuine, it will be returned to the owner. If it is confirmed as counterfeit, it will be confiscated, but no penalties are applied provided the note was handed in voluntarily.

Banks and some merchants employ specialized equipment to check banknotes, including ultraviolet lamps, magnetic detectors, infrared scanners, devices for measuring size and thickness, and computer analyzers that can verify dozens of security features at once. These tools are far more reliable than a visual inspection and can detect counterfeits that are difficult to spot with the naked eye.

Bulgarian law treats crimes involving counterfeit currency very seriously. Forging or producing fake banknotes or coins, under Article 243 of the Criminal Code, carries a prison sentence of 5 to 15 years. Possession, transfer, or circulation of counterfeit money, when the person is aware of its falsity (Article 244), is punishable by 2 to 8 years in prison, with additional property penalties possible in some cases.