Press Release: Euro-counterfeiters to stand no chance

The European Commission has decided on further measures to protect the euro from counterfeiting. Under a proposal for a Regulation presented by Michaele Schreyer, Member of the Commission with responsibility for the Budget and fraud prevention, and Pedro Solbes, Commissioner for Economic and Monetary Affairs, all relevant national and European authorities must cooperate and exchange information in cases of counterfeiting. All authorities and banks must send false euro coins at once for identification. Bureaux de change and banks are required to withdraw all false euro notes and coins from circulation. A unit to combat euro counterfeiting will be set up as part of Europol; it will provide the Member States with assistance in uncovering counterfeiting networks.