Italian Authorities Arrest Prolific Euro Counterfeiter, Seize €3M in Fake Banknotes
Italian authorities have arrested a prolific euro counterfeiter in Naples, seizing nearly €3 million in fake banknotes and dismantling a sophisticated printing operation. The arrest, part of a joint operation with the French National Police and supported by Europol, follows a two-year investigation involving law enforcement agencies from 10 countries. The unnamed forger is believed to have produced over €11 million in counterfeit euros, accounting for 27% of all fake banknotes removed from circulation in Europe last year.
The counterfeiter's operation was highly advanced, featuring an almost industrial-scale production setup hidden within the suspect's home. When officers raided the premises, they discovered 31 digital printing machines and large quantities of raw materials used for producing fake €20, €50, and €100 banknotes. The printing lab was concealed behind a movable wall in the garage, which could be accessed through a homemade electronic system.
The counterfeit banknotes were distributed across Europe, with a significant portion circulating in France. Expert analysis, including assessments by the European Central Bank (ECB), confirmed that the counterfeit notes had high-quality security features, such as holograms, making them difficult to detect.
This arrest highlights the ongoing challenges faced by European authorities in combating counterfeit currency. Despite the increase in counterfeit notes withdrawn from circulation—around 467,000 in 2023, a 25% rise from the previous year—the overall proportion of fake banknotes remains low compared to the total in circulation, according to ECB figures.
The successful operation underscores the importance of international cooperation in tackling transnational crime, particularly in the area of currency counterfeiting, which poses significant risks to the integrity of the European financial system.
