Rise in euro forgeries in second half of 2014: ECB

(FRANKFURT) - The number of counterfeit euro banknotes withdrawn from circulation increased in the second half of 2014, the European Central Bank said on Friday.

A total of 507,00 fake banknotes were removed from circulation in the period from July to December, a jump of 44 percent from the second half of 2013, the Frankfurt-based institution said in its twice-yearly counterfeits survey.

"The number of counterfeits, however, remains very low in comparison with the increasing number of genuine banknotes in circulation -- over 16 billion during the second half of 2014," the ECB said.