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Teenagers arrested for counterfeiting

Five 19-year-old teenagers were arrested in Reykjavík last week for counterfeiting Icelandic bank notes that had been put into circulation this December.

Police confiscated ISK 200,000 (EUR 2,192, USD 2,886) in fake ISK 5,000 (EUR 55, USD 72) bank notes while searching the premises of the teenagers. Morgunbladid reports.

Police also found equipment for faking money, including a computer, a scanner and a printer, as well as a few grams of amphetamine.

According to police, a clerk at a gas station had noticed that a bank note he was given looked fake and called the police who arrested two teenagers at the gas station.

One of them has confessed to having faked the money after interrogation. His house was subsequently searched and three other teenagers were arrested.

Evidently the teenagers had put a lot of work into faking the bank notes as they looked very real. The fake bank notes were embossed and had magnetic strips as real bank notes do. Few had been put into circulation.

According to Icelandic law, counterfeiting currency can carry a prison sentence of up to 12 years.

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