Bulgarian authorities have seized a large quantity of counterfeit banknotes after dismantling an operation for their production in the town of Shumen. Fake bills in 50 Bulgarian lev, $50, and €500 denominations were found to have been circulated through banks and ATMs. Two men with criminal records were arrested in connection with the scheme.
Boyan Raev, deputy head of the General Directorate for Combating Organised Crime, revealed that the operation had successfully passed 37,500 Bulgarian lev and half a million euros in fake banknotes. The counterfeit €500 notes were described as “extremely high quality” by the European Central Bank.
Law enforcement agencies in Bulgaria, the US, and Europe worked together to uncover the operation. The investigation identified the scheme as a severe attack on Bulgaria’s and the EU’s financial systems.
Counterfeiting of such high-quality banknotes poses a significant threat to the stability of financial markets and the economy. The successful collaboration between multiple agencies highlights the importance of international cooperation in combating financial crimes.
Authorities are urging the public to remain vigilant and report any suspicious banknotes to help prevent further circulation of counterfeit money in Bulgaria and the European Union.
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