Council Regulation (EC) No 1338/2001 of 28 June 2001 laying down measures necessary for the protection of the euro against counterfeiting

This regulation seeks to set up an overall system for protecting the euro against counterfeiting, with a view to the introduction of euro notes and coins on 1 January 2002.

The system for the protection of the euro includes the following elements:

• the systematic transmission of technical data on counterfeit euro notes and coins by the competent national authorities (national central banks, other empowered bodies, etc.) to the ECB, which will be responsible for storage and processing;
• the obligation on the competent national authorities to allow the National Analysis Centre (NAC) to examine suspected counterfeit notes and to allow the CNAC to examine suspect coins. These bodies must send all new types of suspect notes to the ECB and all new types of suspect coins to the ETSC;
• the obligation on credit institutions, on other payment service providers and on other institutions that process and distribute notes and coins to the public: European Union (EU) countries must provide for effective, proportionate and dissuasive penalties applicable to institutions that fail to discharge their obligations;
• cooperation between the relevant authorities of EU countries (in particular, the national central offices established under the Geneva Convention), the ECB and the Commission for the purposes of strategic analysis and mutual assistance in the prevention of counterfeiting, including scientific support and training, and between them and the European Police Office (Europol);
• centralisation of the information on euro counterfeiting cases within the national central offices, with a view to transmission to Europol via its national units;
• cooperation with non-EU countries and international organisations.