Morocco Reports 5.5% Rise in Counterfeit Currency, 200 Dirham Notes Most Affected

The number of counterfeit banknotes discovered by BAM amounted to 1.5 million dirhams compared to 1.4 million in 2018. This decline observed in 2018 shows that the risk of counterfeiting is partially under control in Morocco. It is at a low level compared to the international scale. According to BAM’s 2019 annual report on means of payment, the 200 DH, 50 DH and 20 DH banknotes recorded growth rates of 16%, 10% and 24% respectively.

In detail, counterfeit 100 DH and 50 DH banknotes amount to 12% compared to 7% for 20 DH banknotes. As for the counterfeit 2012 banknotes, they amount to 46% compared to 31% and 23% respectively for the 2002 and 1987 banknotes.

Regarding the counterfeiting of foreign currencies, it has declined with 519 counterfeit banknotes compared to 618 banknotes in 2018 and 1,091 in 2017. As for counterfeit US Dollar and Euro banknotes, they stood at 12% and 14% respectively.

The same report states that 93% of the counterfeit banknotes detected were manufactured using photocopiers or color printers. It also specifies that Bank Al-Maghrib continues to modernize its system for detecting counterfeit currency.