Counterfeit Notes 2019

The number of counterfeit Scottish banknotes discovered and removed from circulation during 2019 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 0.0363% of the number of genuine banknotes in circulation, which at the end of 2019 stood at over 325 million notes.

At 118,343 the number of counterfeit notes discovered and removed from circulation increased during 2019. Chart 1 shows comparative figures for 2014 to 2019.  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 2019 to £3,107,400. Chart 2 provides figures for the face value of counterfeit notes removed from circulation from 2014 onwards.

 Chart 2