In a sweeping international operation, authorities have dismantled a criminal network responsible for forging over 2,000 artworks attributed to more than 30 renowned artists, including Banksy, Andy Warhol, Pablo Picasso, Joan Miró, and Claude Monet. The investigation, led by Italian police with support from agencies in Belgium, France, and Spain, uncovered an extensive forgery operation that they say could have caused up to €200 million ($212.5 million) in economic losses for the art market. Some 38 suspects now face charges for conspiracy to forge and sell fraudulent art.
The probe began in March 2023, when Italian police discovered approximately 200 fakes during a search of an entrepreneur’s property in Pisa. Investigators then tracked suspicious sales on e-commerce auction platforms, leading to two identified forgers and several workshops spread across Europe. All the fake works of art have now been handed over to the Italian authorities for further investigation.
The network of forgers worked with complicit auction houses across Italy that published catalogues to lend credibility to the fake works, hosting exhibitions throughout the country to reach a broader market. Other artists whose work was forged include Amedeo Modigliani, Marc Chagall, and Wassily Kandinsky.
This major seizure of counterfeit works is a reminder to collectors of the importance of verifying artwork provenance. Sought-after artists like Banksy and Warhol are prime targets for forgeries, partly due to their high demand and limited supply.
For buyers, ensuring authenticity through independent appraisers is essential, as is consulting with trusted dealers and verifying certificates and ownership histories. For Banksy’s works, authentication through the artist’s de facto representation, Pest Control, is crucial. Meanwhile, understanding the history of Warhol’s prints is essential to spot fakes.
