Notorious counterfeiter arrested in Italy, linked to over $12M in fake euro bills
Experts confirm counterfeit banknotes were of high quality
![Notorious counterfeiter arrested in Italy, linked to over $12M in fake euro bills](https://cdnuploads.aa.com.tr/uploads/Contents/2024/08/19/thumbs_b_c_1f34034f0b3ca7351003e249d793641c.jpg?v=175934)
ATHENS
A notorious money forger responsible for producing over $12 million in counterfeit euro bills has been arrested in Italy, according to a statement released by the EU's law enforcement agency, Europol, on Monday.
The forger, apprehended in Naples through a joint operation by French and Italian authorities, was involved in distributing €8 million ($8.83 million) worth of fake banknotes across Europe. Authorities also discovered an additional €3 million worth of counterfeit currency ready for circulation.
Europol's statement indicated that the arrested individual is believed to be responsible for more than 27% of all counterfeit euro banknotes discovered and removed from circulation in 2023.
The counterfeiter utilized both national and transnational distribution channels, with a significant portion of the fake currency being circulated in France. The counterfeit notes were primarily in denominations of €20, €50, and €100.
Notably, expert analysis, including an assessment by the European Central Bank, confirmed the high quality of the counterfeit notes, highlighting the sophisticated measures, such as holograms, used in their production.
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