An 18-year-old male has been arrested over the alleged possession and circulation of counterfeit banknotes, the police said on Tuesday.

Officers in the Famagusta district acted on a tip-off regarding two €50 notes sharing the same serial number and retrieved them from an employee of a local business.

They later identified an 18-year-old suspect, who was found with two additional €50 notes featuring the same serial number.

A search of his hotel room revealed another 19 notes with the same serial number, all of which were seized as evidence.

He is set to appear at Famagusta district court in Paralimni later on Tuesday, while the police’s investigation into the matter is ongoing.

All notes were seized as evidence.