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Bank of Latvia

The Bank of Latvia » For All » Latvian Money » Counterfeit Banknotes and Coins

Counterfeit Banknotes and Coins

Though counterfeit currency is not often encountered in Latvia, development of new technologies requires paying more attention to protection of banknotes and coins. Many experts consider the lats among those world currencies that are best protected against counterfeiting. Due to numerous security features, the yearly number of counterfeits is very small. Counterfeiting of the lats does not pose any threat for the Latvian national economy.

Only a few dozen counterfeit banknotes and a few thousand counterfeit coins appear in Latvia during the year. Most of these forgeries are produced with the help of the latest technology, such as colour copiers, scanners etc. while some are manufactured by quite primitive methods.

Article 192 of the Republic of Latvia Criminal Law, under the title "Production or Dissemination of Counterfeit Currency and Government Securities", is included in the Chapter "Crimes against the National Economy", thus emphasizing the serious nature of this crime.

Production of counterfeit banknotes and coins of the Bank of Latvia, government securities or foreign currency for the purposes of dissemination, as well as the dissemination itself carry a 3-10 year prison term with or without confiscation of property. If said activities are committed repeatedly or on a large scale or are committed by an organised group, they are punishable with imprisonment of 5-15 years and confiscation of property.

Counterfeiting is defined as production, by any means, of new banknotes and coins similar to those in circulation. Dissemination of counterfeits is defined as "putting counterfeit currency into circulation" by using it as payment for goods or services or repayment of debt, presenting it, or by any other method.

Number of Discovered Counterfeit Banknotes and Coins

2009 Total (1994-2009)
Ls 500 0 30
Ls 100 2 489
Ls 50 19 57
Ls 20 424 1 039
Ls 10 98 475
Ls 5 187 1 382
Ls 2 437 42 907
Ls 1 2 684 24 011
Ls 0.5 30 5 451
Ls 0.2 7 843
Ls 0.05 7 34
Total 3 895 76 718

Number of Discovered Counterfeit Banknotes and Coins (1994-2009) (xls 25 KB)


Amount of Discovered Counterfeit Banknotes and Coins (in lats)

2009 Total (1994-2009)
Ls 500 0 15 000
Ls 100 200 48 900
Ls 50 950 2 850
Ls 20 8 480 20 780
Ls 10 980 4 750
Ls 5 935 6 910
Ls 2 874 85 814
Ls 1 2 684 24 011
Ls 0.5 15
 2 726
Ls 0.2 1.4
 169
Ls 0.05 0.35
 2
Total 15 120 211 911

Amount of Discovered Counterfeit Banknotes and Coins (1994-2009) (xls 25 KB)