Police close down major fake Euro banknote operation
A counterfeiter who produced €11 million in fake banknotes was arrested in Italy on 14 August 2024. He had sold €8 million worth of fake banknotes across Europe and is believed to be responsible for over 27% of all fake euro banknotes discovered and taken out of circulation in 2023 alone. The total face value of these banknotes is estimated at around €8 million. In addition €3 million worth of fake banknotes were found in his Naples-based printing laboratory. Working closely with the French National Police, and supported by experts from Europol, the Italian Carabinieri arrested him in Naples, dismantled his sophisticated counterfeiting print shop and seized nearly €3 million in high-quality counterfeit banknotes.
Leading up to the action day, authorities across Europe had seized counterfeit banknotes of various denominations (mostly €20, €50 and €100) worth around €950 000 before they entered circulation, and all traceable to the same producer.
The police investigation started in 2022 and has seen intelligence contributions from at least 10 countries reporting seizures of the same type of fake euro bills. Experts from the respective anti-currency counterfeiting units tracked down the criminal believed to be responsible to his sophisticated print shop hidden in the city of Naples. When officers raided the location, they came across an almost industrial-like production line containing 31 digital printing machines and extensive quantities of raw materials used for the production of fake banknotes. The criminal had set up shop in his own home, hiding the production facility behind his garage. Concealed behind a cabinet, he had constructed a movable wall part on rails, which allowed him to access the printing lab when actuating a home-made electronic system.
Authorities believe that the forger relied on several national and transnational distribution channels, the latter predominantly in France, to sell his fake banknotes in denominations of €20, €50 and €100. Expert analysis, including an assessment by the European Central Bank, confirmed that the counterfeit security features on the banknotes (such as holograms) were of high quality.
