Committee of Scottish Bankers

Counterfeit Banknotes 2012

The number of counterfeit Scottish banknotes discovered and removed from circulation during 2012 remained only a very small percentage in relation to the total number of genuine notes in circulation. From Table 1 below you can see that the number of counterfeit notes represents only 0.0117% of the number of genuine banknotes in circulation, which at the end of 2012 stood at over 306 million notes.

Table 1

COUNTERFEIT AND GENUINE SCOTTISH BANKNOTES 2012 (NUMBER OF NOTES)

Denomination No. of counterfeit banknotes taken out of circulation No. of genuine banknotes in circulation %
£1 20,254,270  0.0000 
£5 2,744  37,624,938  0.0074 
£10 8,606  96,087,940  0.0090 
£20 24,057  144,384,236  0.0167 
£50 496  5,952,757  0.0083 
£100 2,342,414  0.0002 
Total 35,940  306,646,555  0.0117 

 

At 35,940, the number of counterfeit notes discovered and removed from circulation decreased during 2012. Chart 1 shows comparative figures for 2007 to  2012.

 Chart 1

 

The face value of counterfeit notes removed from circulation also decreased during 2012 to £606,372. Chart 2 provides figures for the face value of counterfeit notes removed from circulation from 2007 onwards.

 Chart 2