BRUSSELS TO TIGHTEN RULES ON EURO CURRENCY COUNTERFEITS
September 1st, 2007
BY KEITH NUTHALL
THE EUROPEAN Commission has proposed changes to the European Union's (EU) regulation fighting counterfeiting of the Euro, which would force financial institutions to check that used-currency they receive is legitimate, ahead of re-circulating it. Under the amendments, banks, bureaux de change and credit institutions would "be obliged to ensure that Euro notes and coins which they have received... are checked for authenticity and counterfeits are detected." A Commission note added: "State of the art proceedings are now ...
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