Decision ECB/2010/14 ensures that credit institutions and cash handlers only recirculate euro banknotes if they have been checked for both fitness and authenticity.
The successful check comprises the following two main criteria:
- Authenticity: The ECB (EC) No 1338/2001 Article 6 regulation ensures that the devices withdraw all euro notes from circulation which they know or have sufficient reason to believe to be counterfeit.
- Fitness: The ECB recirculation framework requires an acceptable tolerance level for the fitness checks by banknote handling machines of 5% within 12 various sorting criteria for all Euro denomination-series. This means that a maximum of 5% of the euro banknotes that do not meet the fitness criteria may be misclassified by the machines and sorted as fit.
Recently on November 14, 2017 the Italian Police seized 900’000 high-quality fake Euro banknotes with a value of more than € 28 mio.
Criminal cases like this underline the significance of the ECB fitness and authentication framework for banknote handling solutions.
CI Note Line is now listed as “Successfully tested banknote handling machine” on the ECB website at: