As regards counterfeits, the Bundesbank offers training sessions, information material and study programmes, for example, free of charge, with the aim of combating counterfeits. Both the Bundesbank’s active involvement in the cash cycle and the issuing of new banknote series also serve this objective, among others.
Moreover, when we introduced the new € and € banknotes, we found that the old banknotes that were still circulating were quickly replaced by the new notes. Nevertheless, it should be noted that the loss arising from counterfeits – which amounted to € million in Germany in 2014 – is only a fraction of the loss which results from card fraud.