French police coordinated the operation with Europol and Italian anti-counterfeiting authorities.
Investigators said the notes were so “expertly crafted” that they almost looked real (Stock image for illustration purposes only) PRESSLAB/Shutterstock
A man who distributed millions of counterfeit banknotes in France and other European countries has been arrested in Naples, Italy.
The man also ran a banknote printing press in Italy, which was dismantled after his arrest. The arrest was carried out as a joint European operation with the support of Europol, the European police agency.
The defendants are suspected of producing a combined total of 11 million euros worth of 20, 50 and 100 euro notes, believed to be the source of 27% of the counterfeit banknotes discovered in Europe in 2023.
He is believed to have had an extensive network of importers, resellers and wholesalers who helped distribute counterfeit notes across the continent.
“High-quality” counterfeit bills
Police investigations began in 2022, when several European police agencies announced they had found “high-quality” counterfeit notes with holograms that were indistinguishable from the real thing. This was later confirmed by analysis by the Central European Bank, which said the notes all showed signs of coming from a unique source.
Also read: Police warn of spread of counterfeit 20, 50 and 100 euro notes
Many of the counterfeit notes were found and seized in France, leading the French authorities' Central Office for Combating Counterfeit Money (OCRFM) to request assistance from Europol. Italy is also involved, as it is considered a centre for euro counterfeiting (especially in Naples).
Read also: Counterfeit 50 euro notes in circulation in southwest France: how to spot them
Also read: A warning about counterfeit (but legal) euro notes used by French scammers
In May, counterfeit banknotes worth 48 million euros were seized in Naples and five French nationals were arrested in connection with the operation.
Digital printing machine
This led to the discovery of a counterfeit printing factory at a private home in the city and police from the Anti-Counterfeiting Unit entered the house on August 14th.
They discovered a “laboratory” hidden behind a false wall on the rails, in front of which was a large cupboard. The lab contained 31 digital printers and kilos of raw materials. Clever electronic operations allowed the counterfeiters to print banknotes simply by touching a button.
Authorities subsequently seized another 3 million euros worth of counterfeit banknotes, adding to the 8 million euros seized over the previous two years.
