Brussels, 25/08/2006 (Agence Europe) - Following a joint operation by Lithuanian police and Europol (the European Police Office), 2000 counterfeit 100 euro banknotes were seized in Vilnius, Lithuania, on 15 August, and five suspects were arrested. 'The operation can be considered as a great success since one of the most significant criminal groups dealing with counterfeit currency was disrupted from the bottom up,' said Europol's director, Max-Peter Ratzel, in a press release. According to the Lithuanian authorities, links between this group and other groups disseminating counterfeit euro banknotes in Europe were successfully identified. All operational and coercive measures were carried out by the Lithuanian Criminal Police Bureau, with analytical and other means of support given by Europol. Links to other countries involved were identified by Europol analysts. The impact of the operation may inhibit the distribution of counterfeit euro notes in the EU, and Europol will be monitoring it and reporting back in its next Organised Crime Threat Assessment (OCTA).
The euro has become the second most important global currency after the US dollar, and has therefore become a lucrative target for counterfeiters and organised crime both inside the EU and elsewhere. But euro counterfeiting remains low key. The European Central Bank explains in its most recent report on counterfeiting that the vast majority (98%) of counterfeit notes have been seized in Euro zone countries. Slightly more than 1% comes from EU Member States which are not members of the eurozone, and less than 1% from the rest of the world.