Title: International Counterfeit Ring Busted by Spanish Police
In a significant crackdown on counterfeit currency operations, Spanish authorities have reported the arrest of 14 individuals linked to the production and distribution of high-quality fake 100 euro banknotes. The counterfeit notes, valued at one million euros, were sophisticated enough to evade detection by ATMs and other security devices.
Elisa Rebolo, a spokesperson for the Spanish National Police, detailed that the counterfeit notes were “made by hand” and incorporated “special inks, watermarks, and different elements” specifically designed to bypass standard detection mechanisms. The meticulous craftsmanship of these banknotes underscores the advanced level of the criminal operation.
The gang, of Pakistani origin, had established its base across Naples, Rome, and Barcelona. From these hubs, they managed to circulate the fraudulent currency throughout Italy, France, Greece, and Spain. The Spanish police successfully apprehended members of the ring at key transport locations in Barcelona, including the airport and the city bus station, where individuals were found carrying 70,000 euros in counterfeit notes.
This operation was the culmination of an international effort involving law enforcement agencies from Spain, Italy, and Greece. The investigation was initiated in November of the previous year after a surge in counterfeit notes was detected in Barcelona.
The arrests have dealt a significant blow to the counterfeit currency network operating across Europe. The collaborative efforts of multiple countries’ police forces highlight the importance of international cooperation in combating sophisticated cross-border criminal activities.
As the police continue their investigation, the financial institutions have been alerted to remain vigilant against such high-quality counterfeits. This incident serves as a reminder of the ongoing challenges faced by authorities in ensuring the integrity of the European currency system.
(Reuters)
