Italian Counterfeiters Target New 20-euro Note

Faizan Hashmi Published July 20, 2016 | 07:12 PM

ROME, (APP - UrduPoint / Pakistan Point News - 20th july, 2016) : A gang of counterfeiters in southern Italy were caught red-handed as they printed fake 20-euro ($22) bills -- a new banknote reputed to incorporate the latest tricks to defeat forgers. Public prosecutors in Naples said Wednesday three men were seized along with a haul of fake notes, in denominations of 20, 50 and 100 euros, that had a nominal value of 6.5 million Euros. The bills were being cranked out by "sophisticated machines and state-of-the-art technology" in an apartment in Casavatore, in the northern suburbs of Naples, the prosecutor's office said in a statement.

It is believed to be the first time in Europe that police have seized a counterfeit setup targeting the new 20-euro note, it said. The 20-euro note was introduced by the European Central Bank (ECB) only last November, boasting an array of "feel, look, tilt" defences designed to thwart forgers. Features include a "portrait window" that becomes visible on both sides when the note is held against the light, and symbols that become visible or change colour in ultra-violet light, the ECB says on its website.