On Wednesday, The Metropolitan Police seize fake coins totalling more than £4 million from three properties in North London, Hertfordshire and Essex. Most of the counterfeit coins were found in a 40ft freight container at Waltham Abbey, Essex. Police also found some of the counterfeits in two vehicles. In total, four million blank £1 coins and £107,000 in completed counterfeits. Metropolitan police believe this is the biggest counterfeit recovery in UK so far. Police are still investigating where the coins are pressed and believe some of the coins maybe already released in circulation.
Detective Inspector Bruce South, from the Met's projects team, said: "This seizure is a significant blow to the network behind it; individuals clearly intent on undermining the UK monetary system by producing counterfeit currency on an industrial scale.
"It is yet another example of the work this team is carrying out on a daily basis to tackle organised criminal networks."
Three men, aged 52, 43 and 27, were arrested and are being held at a north London police station on suspicion of money laundering, making counterfeit money and fraud.
Royal Mint has been actively helping public learn how to to detect fake coins, I had wrote before in my blog about it; How to spot fake £1 coin. If you find any fake in your change, its illegal to use it and you need to report it to the nearest Police station. Its an offence to own and circulate these coins under Britain Forgery and Counterfeiting Act 1981.
