About the Pericles V programme
The Pericles V programme will continue to fight against euro-counterfeiting. As the single currency of the EU, the euro is a core European interest. The Pericles V programme will help to prevent and combat counterfeiting and counterfeiting-related fraud, thus strengthening the trust of citizens and businesses in the integrity of the euro.
The proposal for the Pericles V programme can be found here, and the proposal extending the Programme to non-euro area Member States can be found here.
Why is this a priority?
- Euro cash continues to be used widely in the EU alongside electronic means of payment, so ongoing protection against counterfeiting of the single currency is needed.
- Counterfeits harm citizens and businesses that are not reimbursed for counterfeits even if received in good faith. Counterfeiting therefore harms the trust of citizens and businesses in genuine euro notes and coins.
- The threat of counterfeiting is still substantial. Even though the average number of annually detected counterfeit euro banknotes remains under control, continued vigilance is needed, as demonstrated by the increasing availability of high quality counterfeit euro's and security features on the internet/darknet, the emergence of altered design banknotes, and the existence of counterfeiting hotspots.
What is the Commission proposing?
- To continue the Pericles programme into a next generation, which has been existing since 2002 and has proven to be effective, efficient, and relevant in adapting to evolving threats.
- Whilst largely preserving its existing scope and design, the Pericles V programme will also adapt to future challenges such as potential threats to the digital euro and potential threats posed, and investigational opportunities offered, by Artificial Intelligence.
- To involve all stakeholders in the protection of the euro against counterfeiting, including law enforcement, national central banks and mints, but also the judiciary, as well as customs and private sector experts.
- To guarantee the protection of the euro both within and outside the euro area, by extending the eligibility to the programme to the competent national authorities of non-euro area Member States.
What does it mean in financial terms?
- The proposed budget for the implementation of the Pericles V programme is set at EUR 7 000 000 for the period 2028-2034.
How will the budget make a difference?
- Considering the cross-border circulation of the euro and the deep involvement of international organised crime in euro counterfeiting, national protection frameworks should be complemented by Union initiatives to ensure homogeneous national and international cooperation, and to face possible emerging transnational risks.
- The Pericles V programme addresses a critical gap in many Member States, where resources for organising international and multidisciplinary training on euro counterfeiting are often limited.
- By providing targeted support, the programme strengthens the Union’s capacity to combat euro counterfeiting and supports the development of new relationships, networks and transnational cooperation efforts.
