Protection of the euro against counterfeiting: new requirements applicable to relevant institutions

Protection of the euro against counterfeiting: new requirements applicable to relevant institutions



The Luxemburg legislator has adoptive the calculate of accumulation 7464[1] amending i.a. the revised laws of 5 Apr 1993 on the business facet and of 10 Nov 2009 on commercialism services.


This calculate of accumulation imposes the mass obligations on assign institutions and another institutions professionally geared in the direction of banknotes and coins (such as eg within the limits of their commercialism activities, professionals of the business sector, including technical professed of the business facet as substantially as commercialism institutions):




  1. ensuring the credibility of the euro banknotes and coins that they obtain and impart to place backwards into circulation and ensuring the spotting of counterfeits;




  2. withdrawing from circulation every banknotes and coins conventional for which they undergo or hit decent reasons to conceive to be fictitious by handing them over to the domestic trenchant authorities, i.e. in Luxembourg, the Central Bank of Luxembourg.




In the circumstance of non-compliance with these obligations, the above-mentioned institutions, the members of their direction body, trenchant managers, or some another persons answerable for the operation of these institutions haw be person to a pecuniary dustlike of an turn ranging between EUR 1,250 and EUR 125,000.




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Protection of the euro against counterfeiting: newborn requirements practical to germane institutions




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Protection of the euro against counterfeiting: new requirements applicable to relevant institutions

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