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Italian Police Seize Counterfeit Algerian Dinars

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image Italian financial police

The Italian financial enforcement authorities (GDF) have seized 3.5 million euros worth of counterfeit Algerian notes. The money was discovered in an underground printing operation in the southern town of Naples.

GDF stated that sophisticated printing equipment, 350,000 bills worth DZD 1,000 a piece and large volumes of specialty paper were discovered during a recent sweep. The police also arrested the Italian printer, a resident of Naples who is behind the operation. The alleged counterfeiter and any identified accomplices could get up to 12 years of jail and a fine, if found guilty by an Italian court.

For the Italian authorities, the seizure of counterfeit dinars is an unusual event. Not only this is the first time counterfeit dinars are collected, but given that only one country uses the printed dinars, it is unclear who the final user are. Although the investigation has just begun, local reporters speculate that the money may be ultimately channeled into the anti-government insurgent movement within Algeria. If this is confirmed, the printer will also have to face terrorism support charges.

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