Bank of Korea: "41 Counterfeit Bills Found in First Half of Year, Two-Thirds of Last Year's Level"

The Bank of Korea announced that a total of 41 counterfeit banknotes were discovered during the circulation process in the first half of this year, a 33.9% decrease from the 62 bills found in the first half of last year.

These counterfeit bills were either discovered by the Bank of Korea while processing circulated currency or identified by financial institutions during cash deposits or at bank counters and subsequently reported to the central bank.

The total face value of the discovered counterfeit bills was 473,000 won, a significant decrease from the 570,000 won recorded in the first half of last year, primarily due to the number of counterfeit 50,000 won notes dropping from 15 to 5.

By denomination, 11 counterfeit 10,000 won notes, 22 counterfeit 5,000 won notes, and 3 counterfeit 1,000 won notes were discovered.

The number of counterfeit bills discovered per 100 million banknotes in circulation in South Korea is 0.6, which is significantly lower than in the United Kingdom (4,229), the Eurozone (1,461), Canada (1,411), and Japan (8.6).

(Photo courtesy of the Bank of Korea, Yonhap News)

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