Money counterfeiting in Azerbaijan is much lower than world average
The level of money counterfeiting in Azerbaijan is much lower than the world average, the head of the Cash department of the Azerbaijani Central Bank Hajibaba Masimov told journalists today. The Central Bank of Azerbaijan will hold an "open doors day" for media outlet representatives.
"While there is one laundered false banknote for each 20,000 banknotes in developing countries, in Europe, this indicator is equal to one forgery for each 250,000 banknotes," Masimov said. According to him, the Central Bank withdrew more than 600 false banknotes from circulation and submitted them for destruction.
"Counterfeiting is a growing trend in Azerbaijan. Nevertheless, the money counterfeiters use is produced with very low level methods and techniques. In many cases they simply copy banknotes. That's why it is not difficult to spot false money," Masimov noted.
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