€14m in fake currency seized in postal crackdown

Law enforcement agencies from 18 countries have seized over €14m in counterfeit currency in Operation DECOY, a Europol-coordinated action led by Spain, Portugal, and Austria.

During the operational phase, 174 parcels containing counterfeit currency were seized, triggering 144 new police investigations into the criminal networks responsible, said Europol in a statement. The operation focused on the distribution of fake banknotes and coins via postal services across Europe.

A total of 148,130 counterfeit items were intercepted, including 134,949 euro banknotes and coins, 9,186 British pounds, and 3,595 US dollars. The two most frequently seized denominations were the €50 and €20 banknotes.

The number of units intercepted in the operation is significant, given that around 467,000 counterfeit euro banknotes were withdrawn from circulation in the whole of 2023, a nearly 25 per cent increase on the prior year, but still one of the lowest levels ever in proportion to total banknotes in circulation, according to European Central Bank (ECB) figures.

The vast majority of the seized items were altered-design banknotes, often referred to as ‘movie money’. These reproductions have a similar shape and colour to real banknotes, but include a small disclaimer indicating they are fakes. However, these disclaimers are often overlooked, allowing criminals to pass them off as genuine currency.

The operation saw participation from Austria, Bulgaria, Croatia, the Czech Republic, France, Germany, Greece, Ireland, Italy, the Netherlands, Poland, Portugal, Romania, Serbia, Spain, Türkiye, the UK, and the US.