The total number of counterfeit bills discovered last year was 143, marking the lowest level ever recorded. It appears that the increase in card and mobile payment usage, along with a decrease in face-to-face transactions, contributed to the decline in the discovery of counterfeit bills.

According to the Bank of Korea's report published on the 9th titled 'Status of Counterfeit Bill Discoveries in 2024,' the number of counterfeit bills discovered last year was 143, a decrease of 54 bills (27.4%) compared to the previous year (197 bills). This is the lowest level since the Bank of Korea began compiling related statistics in 1998. In terms of monetary value, it was 1.93 million won, down 7.1% from the previous year (2.078 million won).

How to check counterfeit bills / Bank of Korea

The Bank of Korea noted, "This is attributed to the reduction in cash use for face-to-face transactions due to the increased use of non-cash payment methods and the improvement in the public's ability to identify counterfeit bills." With the rise of card and mobile payments, the use of cash has decreased, and the decline in face-to-face transactions has led to a reduction in counterfeit bills.

By denomination, 5,000 won bills accounted for 75 bills (52.4%), a drop of 48 bills from a year ago. While a significant number of the 5,000 won bills, particularly serial number '77246' from a major counterfeiter caught in 2013, continue to be discovered (74 bills), the Bank of Korea explained that excluding these, the discovery of new counterfeit bills is at a low level. Additionally, 10,000 won bills were reported at 40 bills, 50,000 won bills at 23 bills, and 1,000 won bills at 5 bills.

Counterfeit bills were primarily discovered during the cash handling process of financial institutions. The Bank of Korea discovered 7 counterfeit bills, financial institutions identified 132 bills, and individuals found 4 bills. Breaking it down by region, counterfeit bills discovered by financial institutions amounted to 81 bills, representing a significant portion (61.4%) found in the metropolitan area, including Seoul, Gyeonggi, and Incheon.