Europol has announced the successful conclusion of a major international operation that disrupted a counterfeit currency network, seizing fake cash with an estimated value of EUR 66 million. The operation saw the interception of nearly one million counterfeit items, including euros, US dollars, and British pounds, distributed through postal services.

The operation, conducted with the collaboration of law enforcement agencies from 18 countries, was spearheaded by Austria, Portugal, and Spain. It not only halted the distribution of counterfeit money but also launched 102 new investigations targeting criminal networks involved in currency counterfeiting.

Europol played a pivotal role by coordinating information exchange, refining risk indicators, and providing expertise. The European Anti-Fraud Office (OLAF) supported the efforts with technical infrastructure, enhancing the operation’s effectiveness.

Most criminal networks identified operate outside the EU, primarily in Asia, America, and the Middle East. This operation marked the second phase of an earlier initiative and resulted in significant achievements, including the seizure of USD 600,000 in counterfeit currency by Romanian authorities. The counterfeit items, often altered-design banknotes known as ‘movie money,’ are easily mistaken for real currency due to overlooked disclaimers.