• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Most Counterfeited Currencies In The World

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
140
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

Most Counterfeited Currencies In The World

Counterfeiting involves producing imitations of coins and banknotes or making alterations to genuine currencies to raise their denominational values.

Access to emerging technology has enhanced measures used by fraudulent individuals to counterfeit bank notes and other financial instruments across the globe.

The term “counterfeiting” as related to cash involves producing imitations of coins and banknotes or making alterations to genuine currencies to raise their denominational values.

According to the International Criminal Police Organisation (INTERPOL), counterfeiting financial instruments fuels the economy of the underground and promotes the activities of organised criminal networks and terrorists.

To correctly assess the amount of money that is counterfeited, countries use Parts Per Million (ppm) for measurement. The score is given by measuring the number of counterfeit notes in circulation for every one million authentic notes and most nations aim to stay below a benchmark of 15 ppm.

Below are the most counterfeited currencies in the world

The following countries as profiled by YahooFinance have the most counterfeited notes:

RankCountryPPM
1US Dollar100?
2British Pound42
3Euro13
4Australian Dollar9
5Philippine Peso7.9
6Canadian Dollar7
7South African Rand3
8New Zealand Dollar0.8
9Malaysian Ringgit0.3

The US dollar has been reported as the most counterfeited banknote in the world. YahooFinance notes the absence of concrete data on the number of counterfeited US dollars as the “US government remains secretive about the amount of counterfeit cash in circulation”

However, the most recent report on the issue (2006) reveals that one in every 10,000 US bills was fake.

According to the Central Bank of Nigeria, (CBN), the amount of counterfeit notes between January – December 2016 was less than 1% (0.0014%) or 14 counterfeit notes out of a million banknotes.

While the CBN report puts the volume of Nigeria’s counterfeited banknotes at the barest minimum, there is a contradiction as bank customers still witness the issuance of counterfeit notes from authorised bank Automated teller machines (ATM).

The Counterfeit Currency (Special Provisions) Act 1974 (Nigeria), provides a sentence of life imprisonment for “Any person who falsely makes or counterfeits any bank note or coin resembling any bank note or current coin which is legal tender in any country other than Nigeria”.

Source: businessinsiderafrica
Via: norvanreports
Tags: Counterfeited CurrenciesMost Counterfeited Currencies In The World
No Result
View All Result

Highlights

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

Deputy Finance Minister Hints 2026 Budget to Prioritise Fiscal Discipline and Job Creation 

FirstBank and Coronation Insurance Strengthen Partnership to Deliver Greater Value to Customers

Specialised Financial Courts to Prosecute Persons Indicted in Auditor General’s Annual Report, Says President Mahama

Top 50 Mining Companies Surge to New Record Near $2 Trillion Valuation

Trending

Banking & Finance

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach

October 21, 2025

BoG Halts GCB Bank Dividend Payment Over Regulatory Breach Shareholders of GCB Bank PLC may have to...

How an Idle Land Tax Could Build 10,000 Homes in 5 Years

October 21, 2025

Thibaut Courtois Accuses La Liga of ‘Manipulation’ Amid Protests Over Miami Fixture

October 21, 2025

Historic Bid: U.S. Joins Forces with Mexico, Costa Rica, and Jamaica for 2031 Women’s World Cup

October 21, 2025

Bank of Ghana Sells GHS 7.0bn in 56-Day Bills at 21.46% Interest Rate

October 21, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.