A total of 10,213 counterfeit banknotes were seized in Austria last year, marking a rise of around 30% compared to 2023, according to the Austrian National Bank (OeNB).

The €50 banknote accounted for the largest share of seized fakes, with 4,258 notes (41.7%), followed by the €100 note (2,520 notes; 24.7%) and the €20 note (2,154 notes; 21.1%).

Despite the rise in counterfeit currency, the OeNB reassured the public that cash remains “the safest payment method” and “protects against phishing, cybercrime and online fraud.”

When comparing fraud values, the bank said the misuse of card and account details for transfers amounted to a middle double-digit million sum, while the fraudulent value of counterfeit notes stood in the hundreds of thousands of euros.

The OeNB also highlighted the security features of euro banknotes and the common “feel, see, tilt” test for authenticity. A new series of banknotes is already in development to further strengthen protection against counterfeiting.