The gangsters are also aware of the danger to their billions hoarded by them in various European currencies, particularly in Deutsche marks and kroners. The National Criminal Intelligence Service in Britain, which monitors international crime, has reportedly warned that the euro may lead to a tremendous rise in money-laundering and bank robberies, apart from counterfeiting rackets. The robberies will be attempted to mix the legal tender with counterfeit notes. The issue of counterfeiting and the euro s susceptibility to organized crimes may also be raised by participants. The treasurer of the Bank of Belgium has been quoted in a daily saying that the risk for counterfeiting will be very high since the euro banknotes will be widely used.
Modern technology offers the opportunity of fairly good reproductions.
He has expressed doubts about the European Union s ability to control the crime. The mafia has successfully duped people, particularly in small towns and villages in Italy, in believing that the euro is already in circulation. Since its foreign exchange rate is much higher, the gullible have been lured to exchange their lire for euros. The British police have evidence that mafia is cornering huge amounts of sterling so as to convert it into counterfeited euro banknotes three years later. The mafioso also need foreign currency as they will have to convert their illegal hoard of over 100 billion pounds sterling in cash to offset the effect of 11 currencies in Europe merging into the euro.