The ECB has announced that during the first half of 2014, 331.000 counterfeit euro banknotes of various denominations were withdrawn from circulation. During the corresponding period of 2013, 317.000 counterfeit banknotes were withdrawn from circulation. The €20 and €50 denominations exhibited the highest rates of counterfeiting, accounting for 46,5% and 34,7% of the total, respectively.
In Cyprus, during the first half of 2014, 262 pieces of counterfeit euro banknotes of various denominations were identified and removed from circulation. The €50 banknote had the highest rate of counterfeiting in Cyprus, accounting for 54,6% of the total.
In comparison with the number of genuine euro banknotes in circulation, the quantity of counterfeits remains low.
Despite the very small amount of counterfeits, the Central Bank of Cyprus advises the public to closely monitor the banknotes received in cash transactions. For the purposes of applying simple checks of whether a banknote is genuine, relevant information exists on the Central Bank of Cyprus and ECB websites.
http://www.ecb.europa.eu/euro/banknotes/security/html/index.en.html