BiH: Number of counterfeit convertible marks drops in 2020

BiH: Number of counterfeit convertible marks drops in 2020

The Central Bank of Bosnia and Herzegovina (CBBH) recorded fewer counterfeit banknotes and coins of convertible mark in 2020 compared to 2019.

Last year, out of the total number of banknotes arriving to the CBBH for expertise, 410 pieces of counterfeited convertible mark banknotes were registered, marking a 9.49% drop from 2019, and 729 pieces of convertible mark counterfeited coins, a 36.94% decrease.

“The CBBH is continuously working on informing citizens about the security features of convertible mark banknotes and coins in order to be able to distinguish an original banknote and coin from counterfeit, and thus protect themselves from possible fraud. Therefore, the CBBH regularly warns citizens in cases of recognizing counterfeits to pay attention to the fact that, in addition to the paper type, which is specific and can be distinguished from ordinary paper, banknotes contain security features that can be checked without the use of any additional equipment. Therefore, for example when the banknote faces the light, a watermark and a security thread can be spotted on the paper. The banknotes also have a relief print that can be felt under the fingers (portrait and texts on the face of BAM banknotes). There are also optically variable elements that change appearance or colour when changing the angle at which the banknote is examined,” the Bank announced in a press release.

Counterfeit coins can be distinguished from authentic ones visually and in terms of dimensions, weight, material, magnetic properties, details in minting and so forth.

In the event that citizens suspect they have a counterfeit banknote and coin at their possession, they can hand it over to the authorities within the Ministries of Internal Affairs. More detailed information on security features is also available on the CBBH website.

Of the total number of convertible mark counterfeits in 2020, the most represented were the denomination of KM 50 (185 pieces), followed by the KM 100 (129 pieces) and the KM 20 (77 pieces). In terms of the denomination structure of counterfeit coins, the most counterfeited denomination was the KM 1 (660 pieces), followed by the KM 5 (66 pieces), while the least counterfeited was the KM 2 (3 pieces).

In 2020, 925 counterfeited banknotes of other currencies were registered, of which the majority was euro banknotes; 679 pieces. /ibna