The number of registered and seized counterfeit banknotes circulating in monetary circulation has reached its highest point since the beginning of 2010, or in the last 15 years, according to alarming data provided by the Bulgarian National Bank (BNB) to BTA. The analysis of the statistics paints a disturbing picture of increasing counterfeiting of the currency in the country.
During the third quarter of the current year, the authorities seized 2896 counterfeit banknotes. The last time a similar high number was reported was in the first quarter of 2010, when 3327 counterfeit bills were discovered in circulation. This underlines the seriousness of the situation and the need for increased measures to combat currency counterfeiting.
The largest share of the seized counterfeit banknotes are with a denomination of 50 leva. Of the total number of counterfeit money discovered during the period under review, a total of 2748 banknotes were with this denomination, representing nearly 95% of the total volume. This figure is the highest recorded since statistics on the counterfeiting of 50-leva banknotes have been kept. This indicates that counterfeiters are focusing on this particular denomination, likely because of its widespread use and relative ease of counterfeiting. After the 50-leva banknotes, the most widely counterfeited are those of 100 leva – 91 pieces, followed by the 20-leva banknotes – 51 pieces.
The counterfeit money seized during the third quarter marks a significant increase – 2.5 times compared to the previous quarter. During the second quarter of the year, the seized counterfeit banknotes were 1249 pieces. At that time, the main share of the counterfeited money were the 100-leva banknotes – 661 pieces, followed by those with a denomination of 50 leva – 533 pieces.
The overall picture outlined by the data shows a dramatic increase in the seized and registered counterfeit banknotes in the last two quarters. In the last decade, only in two quarterly periods has the number of seized counterfeit money reached a four-digit number, which underlines the severity of the problem at the moment. This necessitates a reassessment of the measures taken to combat counterfeiting and strengthening control over the monetary circulation.