CATALONIA, SPAIN—  Spanish National Police have  dismantled what has been  described as “the most important and active laboratory in Europe dedicated to the production of high quality counterfeit €500 bills.Twelve individuals were arrested, 4.3 million euros in fake €500 bills were seized, and a print shop was dismantled where several printing presses, an insulation machine, a hot stamping machine, a paper guillotine and raw materials were found. Europol said the counterfeiters were using top-end technology to produce what are considered to be some of the most sophisticated fakes ever detected in the European Union and the most dangerous counterfeits produced in the EU in recent years.Europol describes the members of the criminal network as having different functions, from supplying raw materials, mainly from China, to managing the printing equipment. The fake money was used for different criminal activities including drug trafficking. The European Central Bank put a halt to the printing of €500 notes in 2014, and European Union central banks stopped issuing them in 2019. Nonetheless, they remain legal tender.