A total of 1,496 counterfeit euro banknotes were found in circulation in Finland last year, up from 980 in 2019, according to the Bank of Finland.
The amount of fake money found in Finland has steadily increased over the past five years, but is still low compared with other euro area countries, the statement added.
"The number of counterfeit euro banknotes found in circulation has increased from the previous year, but remains moderate," Banknote Specialist Olli Vehmas wrote in a press release.
The 20 euros denomination was the most frequently detected counterfeited note, with 629 fakes discovered. This was followed by the 10 euros note (410 counterfeits) and the 50 euros (358 counterfeits).
Fakes are "easy and quick" to detect
The Bank of Finland’s release added that a number of security features have been incorporated into euro banknotes to tackle counterfeiting.
"It is easy and quick to detect counterfeits by learning the banknote security features and always checking them when handling banknotes," Vehmas said.
The authenticity of a banknote can be checked using a number of simple tests, such as by feeling the raised print, looking at the banknote against the light and tilting it, or by comparing it to a note that is known to be genuine.