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RSS Feed General News16. 07. 12. - 17:00
Tourism blamed for counterfeit money
Tourism has been blamed for a rise in the number of counterfeit bank notes seized in Austria.
While the rest of Europe has seen a decrease in the number of fake Euro notes in circulation, parts of Austria have seen an increase. Vienna and Tyrol in particular have fallen victim to forgers.
According to the Austrian National Bank, in the first half of this year, 2,951 fake notes were seized. A majority of these (24.8%) were found in the capital Vienna, with a further 23% handed in in Tyrol.
The cost to the economy in the first six months of 2012 lies at around EUR 202,310.
Authorities blame in part the huge number of foreign tourists in these places for the increase.
Despite a slight rise in counterfeit money in Austria this year, the country still remains on top of the problem and has the least number of fake notes in the Euro-zone. In fact Austria only contributes 1.2 per cent to the entire number of falsified notes in Europe.
Denominations most likely to be forged are 20, 50 and 100 Euro notes.
Vienna Times
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notes tourists economy fake seized Tourism problem money slight Austria Euro Authorities least Tyrol counterfeit blamed Vienna zone lies Europe
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