Hardly any Dutch people can recognize counterfeit money: DNB
Despite the alleged rarity of counterfeit euros in the Netherlands, authorities are sounding the alarm over a significant rise in fake banknotes circulating in the economy and urging the public to learn how to recognize them, Trouw reports.
According to De Nederlandsche Bank (DNB), just 0.002 percent of euro bills in the Netherlands are counterfeit. Still, the numbers are growing: about 24,000 fake notes were detected in 2024, a 40 percent increase from 2023. Their total face value was approximately 2.6 million euros.
Much of this counterfeit money is produced abroad, said Leon Damink, a counterfeit currency specialist with the Amsterdam police. “You can simply order it online,” Damink said during a DNB-organized event. He warned that police closely monitor such activities: “There is a big chance you will get caught.”
Printing operations also exist within the Netherlands. When police uncover domestic counterfeiting equipment, Damink said, suspects frequently claim the fake bills were props for film productions.
Niels Ducro, an expert on counterfeit money at DNB, emphasized that online marketplaces are a common venue where unsuspecting individuals receive fake currency as payment.
The consequences can be severe. “Counterfeit money causes a lot of hardship,” Damink told Trouw. It does not only circulate in criminal networks or terrorist organizations but also ends up in the regular economy. “Sometimes companies go bankrupt because they accepted counterfeit money. Many people feel ashamed and therefore do not report it,” he said.
Knowingly spending counterfeit currency is a criminal offense. “You are personally responsible for what ends up in your wallet,” Ducro stressed. Damaged genuine bills can be exchanged at DNB if at least 50 percent of the note remains intact. However, DNB does not reimburse counterfeit notes. “Otherwise, we would be facilitating the circulation of counterfeit money,” Ducro told Trouw.
Despite the surge, most counterfeit bills are easy to spot. Ducro explained that 99 percent can be identified within seconds because they are of extremely poor quality. “It is not difficult,” he added.
Yet few Dutch consumers take time to check their cash. “Dutch people have a lot of trust in the money they receive,” Ducro noted. Research shows the average Dutch person recognizes only two or three of the seven security features embedded in euro banknotes. “It’s a shame,” Ducro said. “Such a small piece of cotton is a beautiful work of art, full of security features.”
For the rare one percent of counterfeit bills that are nearly indistinguishable to the naked eye, authorities rely on special techniques. “We can still trace them,” Ducro said, explaining that UV lamps or microscopic letters visible only with specialized equipment help expose sophisticated forgeries. “There are more secrets, but we will not reveal those,” he added.
