| Abstract: | The subjects of counterfeit and fraud have risen in popularity since the introduction of the Euro. While the notes are incredibly sophisticated, incorporating the most advanced technical features in the field of currency creation, the initial phase of unfamiliarity will raise the likelihood of people receiving and passing on counterfeits. Indeed, European Commissioner, Michaele Schreyer has warned that exceptional measures need to be taken to prevent 2002 becoming “the year of the counterfeiters”. In cooperation with the central banks of member states, the European Central Bank will coordinate a database on coin and note counterfeiting, to be used worldwide. The European Anti_Fraud Office (Olaf) will be the conduit of information exchange on the counterfeiting of the Euro. In addition, a European scientific and technical centre will be established to analyze every kind of fake Euro. Europol, the European police organization (www.europol.net), will serve as the coordinating anchor of all national anti_counterfeiting agencies, while Interpol will operate a special Euro file, which will register organized networks and independent counterfeiters operating in Europe, becoming the world reference in this field. |
