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Germany: The Dark Web Blamed for Counterfeit Money in Circulation at St. Pölten

This dark web crime was not a typical cyber-attack – counterfeit banknotes were used as money. As the police investigate cases where fake money had been used several times successfully in St. Polten, Germany, the focus of their investigation is not ignoring the use of the darknet to accomplish the fraud. Of the 67 cases reported, almost half were published in October alone.

Banknotes with the face value of 20 and 50 euros were most frequently used to settle payments. The notes are the highest value accepted as means of payment without a particular banking control system. An expert Hammerschmidt of the National Bank confirms this. The counterfeits have all the features of actual money except that the colors on the notes fade later in the day.

This case of counterfeit money is reported to have led to financial losses of businesses and consumers. The pressure from approaching festivities adds even more danger. This could be the reason that counterfeit money was used for purchases almost daily for two months in St. Polten. Many people have only known the need to be very careful about sharing their credentials after dark web gangsters had already initiated their fraudulent activities. This means that the discovery of the events of the Darknet involving counterfeit money may help expose some well-hidden operations on the Darknet.

The expert suspected either the presence of a gang that is distributing this large amount of counterfeit money or a Darknet user controlling how it is distributed to the public in St. Polten. This form of fraud is adding pressure on the services of cashiers in enterprises and financial institutions and agencies. Markets influenced by the Christmas season are now at a very high risk.

The Darknet has always been associated with illegal business activities. Banking fraud that results from security breaches in the internet and network systems are usually carried out by fraudsters through Darknet activities. Vendors now provide security solutions to individuals’ and companies’ computing services. Who will rescue the victims of counterfeit money schemes? The cases of fake money in St. Polten involve highly undetectable fake money.

Police and the Chamber of Commerce are now working together to develop an SMS alert system in case of emergencies and to signal users in the advent of the gangs distributing counterfeit money in future.

Mr. Karl Ungaersback, who works with the Economic Chamber of Lower Austria, said that the SMS solution is a measure that will attempt to prevent robberies that involve breaking into people’s and companies’ properties. The ability of this initiative to act in time to stop this dreaded economic threat will be a significant breakthrough of this advanced age. The current fraud activities executed through the darknet protect the perpetrators to some extent from the wrath of the law. The darknet enables the gangsters to hide their trail as they pursue criminal goals.

3 comments

  1. st.pölten is in austria

  2. As you are writing later in the Article, St. Pölten is in Austria and not in Germany.

  3. I was going to write the same. It’s not Germany. Such mistakes are details that makes the story lose credibility.

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