Police Uncover €500K of Counterfeit Euro Coins, Largest Stash in European History
Police in Italy have uncovered the largest stash of counterfeit euro coins in history.
The stash was discovered by chance at a Naples port while detectives were inspecting metal pipes. The coins apparently originated from China. Police say the Italy-China route is popular for smuggling counterfeit goods to Europe.
Investigators usually focus their efforts on uncovering counterfeit bills, which typically carry much higher value than coins.
The discovery comes as the currency hovers near post-euro-crisis lows versus the dollar.
Authorities struggle to keep pace with counterfeiting technologies, which have kept pace with advanced countermeasures to this day. Authorities have had to resort to heavy deterrents- up to 20 years in prison plus penalties- in the absence of preventative measures to combat the practice. In theory, there is no end to the game of cat and mouse unless a different approach is taken.
The notion of electronic, cryptograghically secured fiat, perhaps in p2p form, may have more reason for consideration with central banks. Such a scheme, in theory, eliminates the possibility of counterfeiting.
Progress on Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term for "traditional virtual currencies" in the European Union has been slow, impeded by the objectives of multiple states, its low priority and a sentiment to follow the lead of other economies.
Police in Italy have uncovered the largest stash of counterfeit euro coins in history.
The stash was discovered by chance at a Naples port while detectives were inspecting metal pipes. The coins apparently originated from China. Police say the Italy-China route is popular for smuggling counterfeit goods to Europe.
Investigators usually focus their efforts on uncovering counterfeit bills, which typically carry much higher value than coins.
The discovery comes as the currency hovers near post-euro-crisis lows versus the dollar.
Authorities struggle to keep pace with counterfeiting technologies, which have kept pace with advanced countermeasures to this day. Authorities have had to resort to heavy deterrents- up to 20 years in prison plus penalties- in the absence of preventative measures to combat the practice. In theory, there is no end to the game of cat and mouse unless a different approach is taken.
The notion of electronic, cryptograghically secured fiat, perhaps in p2p form, may have more reason for consideration with central banks. Such a scheme, in theory, eliminates the possibility of counterfeiting.
Progress on Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term for "traditional virtual currencies" in the European Union has been slow, impeded by the objectives of multiple states, its low priority and a sentiment to follow the lead of other economies.