From now on, Bank of Lithuania will also check authenticity of foreign currencies
The Bank of Lithuania and the Police Department signed an agreement that will strengthen their cooperation in the fight against currency counterfeiting – more rapid exchange of information and methodological assistance, with the Bank of Lithuania examining considerably more currencies.
“This cooperation will allow more efficient use of the Bank of Lithuania’s, as the national analysis centre, abilities and tools. It will set up additional walls for counterfeit money to not circulate in our own country and beyond its borders as well,” said Asta Kuniyoshi, Deputy Chair of the Board of the Bank of Lithuania.
The Bank of Lithuania used to examine only suspicious euro banknotes and coins, but will also check other banknotes in circulation, which will be submitted for testing by police officers: US dollars, UK pound sterling, Russian roubles, and other currencies. We would like to remind that upon identification by Bank of Lithuania specialists that the money is counterfeit, in all cases the police are immediately informed. The Bank of Lithuania will not accept foreign currency for examination from residents or companies – in such cases it is recommended to contact commercial banks or currency exchanges.
Part of the euro banknote examinations and all authenticity checks of foreign currencies used to be performed at the Lithuanian police forensic science centre, with the Bank of Lithuania performing only authenticity checks of banknotes as well as coins of euro and litas.
Currently there is more than €4.4 billion of Bank of Lithuania-issued euro in circulation. Over a year, the Bank of Lithuania identifies, on average, 3,000 counterfeit banknotes and coins of different denominations. It exchanges, on average, around 90,000 damaged banknotes and coins.