A record number of fake euro banknotes were seized by authorities in the first half of this year, the European Central Bank (ECB) said yesterday, with €20 notes remaining the forgers’ favourite.

The ECB said the 413,000 counterfeit banknotes detected in the first six months of 2009 represented a 17 per cent rise, although cash in circulation had also swelled steadily since euro notes and coins were introduced in 2002.

There were about 12.5 million banknotes in circulation, the central bank said.

The €20 notes made up 48.5 per cent of counterfeits while €50 notes made up 34 per cent. – (Reuters)