NAPLES, Italy — A man suspected of manufacturing €11 million ($12 million) worth of counterfeit Euro banknotes was arrested in Naples last week, Europol announced Monday.
The European police agency said the unnamed suspect had already sold €8 million worth of fake notes across Europe, with many circulating in France. An additional €3 million in counterfeit currency was ready for distribution from what Europol described as a “bunker-like printing laboratory.”
According to Europol, the forger is believed to be responsible for “over 27% of all faked euro banknotes discovered and taken out of circulation in 2023 alone.”
Italian Carabinieri officers raided what Europol called a “sophisticated print shop” concealed behind a garage and a sliding door. The facility reportedly contained an “almost-industrial production line” with 31 digital printing machines and large quantities of raw materials.
“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,” Europol said in a statement.
This arrest follows a series of related operations across Europe targeting counterfeit currency production and distribution:
– In March, police arrested 14 people in Barcelona, Rome, and Naples for producing and distributing over €1 million in counterfeit €100 notes. These fake bills were reportedly passing through ATMs and other devices undetected.
– German authorities withdrew over 56,000 banknotes theoretically worth more than €5 million from circulation in 2023 amid a sharp rise in counterfeit bills.
The latest arrest in Naples highlights the ongoing challenges faced by European law enforcement agencies in combating sophisticated counterfeiting operations.
Europol did not provide details on how the suspect was identified or tracked, citing the ongoing nature of the investigation. The agency also did not disclose information about potential charges or legal proceedings against the arrested individual.
The European Central Bank, responsible for issuing Euro banknotes, continuously updates security features to stay ahead of counterfeiters. The bank encourages the public to remain vigilant and familiarize themselves with these security features to identify genuine currency.
As the investigation continues, authorities are likely to examine the wider network involved in distributing the counterfeit notes across Europe.
