Directive 2014/62/EU on the protection of the euro and other currencies against counterfeiting by criminal law

Summary:

Directive of the European Parliament and of the Council of 15 May 2014 establishing minimum rules concerning the definition of criminal offences and sanctions in the area of counterfeiting of the euro and other currencies.

Further information:

This Directive aims to strengthen the protection of the euro and other currencies against counterfeiting through criminal law measures. These include strengthening cross-border investigations and introducing minimum penalties, including imprisonment, for the most serious counterfeiting offences. The Directive will also enable the analysis of seized forgeries during judicial proceedings in order to detect further counterfeit euros in circulation.

The Directive was proposed by the European Commission on 5 February 2013. The European Parliament plenary of 16 April 2014 voted in favour of the initiative. The Council of the European Union approved the draft law on 6 May.

Background:

Counterfeiting of the euro and other currencies remains a concern throughout the European Union. It is of fundamental importance to ensure trust and confidence in the authenticity of notes and coins for citizens, companies and financial institutions. Counterfeits harm citizens and businesses that are not reimbursed for counterfeits even if received in good faith. It also decreases the acceptability of notes and coins.

The European Union and the Member States should provide for comprehensive protection of the euro and combat offences against the euro on a common basis. Following the International Convention for the Suppression of Counterfeiting Currency ('Geneva Convention'), as supplemented by Council Framework Decision 2000/383/JHA, all currencies will profit from this increased protection of the euro.

Official

EUR-Lex: COM(2013)42: Proposal for a Directive on the protection of the euro and other currencies against counterfeiting by criminal law https://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2013:042:FIN

European Commission: Press Release, 05/02/2013: European Commission strengthens the protection of the euro by means of criminal law http://europa.eu/rapid/press-release_IP-13-88_en.htm

European Commission: Memo, 16/04/2014: Every euro counts: European Parliament says 'yes' to new rules to fight fraud and euro counterfeiting http://europa.eu/rapid/press-release_MEMO-14-303_en.htm

Council of the European Union: Press Release, 06/05/2014: Council adopts directive on the protection of the euro and other currencies against counterfeiting http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/jha/142498.pdf

European Commission: Memo, 06/05/2014: Zero tolerance for counterfeiting the euro: European Commission proposal clears final hurdle http://europa.eu/rapid/press-release_MEMO-14-333_en.htm

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ESO Records

Protecting taxpayers’ money: Commission proposes to strengthen use of criminal law against fraudsters http://www.europeansources.info/record/press-release-protecting-taxpayers-money-commission-proposes-to-strengthen-use-of-criminal-law-against-fraudsters/

Vice-President Reding and Commissioner Šemeta welcome agreement to protect euro from counterfeiting https://www.europeansources.info/record/memo-vice-president-reding-and-commissioner-semeta-welcome-agreement-to-protect-euro-from-counterfeiting/

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