Progress is made across EU on tackling euro coin counterfeiting in 2016
The number of counterfeit euro coins removed from circulation in 2016 increased by 8.69% compared to the year before. In 2016 a total of 150,258 fake euro coins were detected in circulation. In addition to this, 77,084 counterfeit euro coins were seized before entering circulation by law enforcement authorities. The 2-euro denomination remains by far the most affected by this criminal activity, representing more than 2 out of 3 counterfeit euro coins detected. Despite the fact that the proportion of counterfeit 50 euro cent coins decreased, the coin remained in second position, from the quantity point of view (17.1% of the total), with the of 1-euro coins following (13.6% of the total). A combination of preventive measures including legislation, technical analysis, law enforcement coordination and judicial cooperation have allowed Member States to make progress in removing counterfeit euro coins from circulation. A comprehensive legal framework exists at the European level for the protection of the euro. It consists of administrative, training and criminal law and authentication measures.
Commission opens public consultation on potential restrictions on large payments in cash
As announced in its Inception Impact Assessment of 23 January 2017, the Commission is currently exploring the relevance of potential upper limits to cash payments in the context of the fight against terrorism financing described in its 2016 Action Plan. Cash is still the most common and accessible means of payments. That's why it is essential to collect the views of civil society on such a sensitive initiative. The Commission has therefore opened an open public consultation inviting all stakeholders to express their views by answering a dedicated questionnaire, while also providing the opportunity to upload a detailed position paper. This consultation will remain open until 31 May 2017.