Counterfeit Notes 2018

The number of counterfeit Scottish banknotes discovered and removed from circulation during 2018 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 0.0325% of the number of genuine banknotes in circulation, which at the end of 2018 stood at over 310 million notes.

At 101,023 the number of counterfeit notes discovered and removed from circulation decreased during 2018. Chart 1 shows comparative figures for 2013, to 2018. The reduction in both £5 and £10 notes discovered is the result of a change to polymer notes.

Table 1

Figures include counterfeits of both current and old series notes.  For the £5 & £10, these were discoveries of counterfeits paper banknotes which are no longer legal currency.

The face value of counterfeit notes removed from circulation also decreased during 2018 to £2,340,360. Chart 2 provides figures for the face value of counterfeit notes removed from circulation from 2013 onwards.

 Chart 2