Man who flooded Europe with millions of false banknotes arrested
French police coordinated the operation along with Europol and Italian anti-counterfeiters
The notes were so ‘well made’ that they almost appeared genuine, investigators said (stock image for illustration only)
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A man who flooded France and other European countries with millions of false banknotes has been arrested in Naples, Italy.
The man also ran a bank note printing press operation in Italy, which was dismantled after his arrest. The arrest operation was a joint effort between European authorities, with support from European police agency Europol.
The accused is suspected of producing 11 million worth of euros in notes of 20, 50 and 100; and is considered to be the source of 27% of fake banknotes discovered in Europe in 2023.
He is thought to have a wide network of importers, resellers, and wholesalers, who helped him to distribute the fake notes throughout the continent.
‘High quality’ fake notes
The police investigation began in 2022, when several European police agencies said they had discovered “high quality” fake notes, with holograms that were almost convincing as genuine. This was later confirmed by analysis by the Central European Bank, which also said that there were signs that all of these notes came from a unique source.
Read also: Police warn against spread of counterfeit €20, €50 and €100 notes
French authorities from the Office central pour la répression du faux-monnayage (OCRFM) asked for Europol support as many of the notes were discovered and seized in France. Italy was also involved because it is considered to be a hub for euro banknote counterfeiting (particularly in Naples).
Read also: €50 fake notes circulating in south-west France: how to spot one
Read also: Warning over false (but legal) euro notes used by fraudsters in France
In May, the equivalent of €48 million in counterfeit notes was seized in Naples, and five French nationals were arrested on suspicion of involvement in the operation.
Digital printing press
This led to the discovery of the counterfeit printing works, in a private residence in the city. On August 14, police from the anti-counterfeiting section entered the house.
They discovered the ‘laboratory’, hidden behind a false wall on rails, which had a large cupboard in front of it. The lab had 31 digital printers, and contained many kilograms of raw material, in a slick electronic operation that enabled the counterfeiter to print notes easily with a touch of a button.
Authorities then seized the equivalent of €3 million in counterfeit notes, adding to the €8 million already seized over the last two years.
