Counterfeit Scottish Banknotes 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.

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.

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 can be attributed to the introduction of new polymer notes.

Chart 1

 

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