Counterfeit Banknotes Surge in Bulgaria, Highest Since 2007

Bulgaria is grappling with a sharp increase in counterfeit currency, with the Bulgarian National Bank (BNB) reporting a concerning surge in fake banknotes, particularly those of 100 BGN denominations. According to data from, the first quarter of this year saw the discovery of 50 counterfeit 100 BGN banknotes, marking a significant rise compared to the mere 7 detected throughout the entirety of last year.

This surge in counterfeit currency is the most pronounced since 2007, underscoring a worrying trend in fraudulent activities targeting Bulgaria's monetary system. BNB data also reveal a notable peak in the first quarter of 2021, with 42 counterfeit 100 BGN banknotes identified.

In total, authorities detected 225 counterfeit banknotes in Bulgaria during the first three months of this year, further highlighting the severity of the issue. Among these, the most prevalent were counterfeit 50 BGN banknotes, amounting to 83 pieces. Additionally, 77 counterfeit 20 BGN banknotes were seized, along with 14 counterfeit 10 BGN coins. A single fake 5 BGN coin was also found.

Counterfeit coins were not exempt from the surge, with Bulgarian authorities uncovering a variety of fake denominations. Among these, counterfeit 50-cent coins were the most prevalent, totaling 11, followed closely by counterfeit 1 BGN coins, each totaling 10. Overall, 30 counterfeit coins were discovered in the country during the first quarter, including 9 fake 2 BGN coins.

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