HomeNewsBriefPeru Now a Major Producer of Counterfeit Dollars
BRIEF

Peru Now a Major Producer of Counterfeit Dollars

MONEY LAUNDERING / 31 AUG 2012 BY TRACEY KNOTT EN

U.S. and Peruvian authorities say Peru is now a major producer of counterfeit bills, and may be attracting foreign money launderers.

According to a US Secret Service representative who spoke with BBC Mundo, Peru produces 17 percent of all counterfeit dollars in the United States. The US agency first detected counterfeit bills coming from this Andean nation in 2003.

Peru has surpassed Colombia, which was once responsible for 43 percent of the world’s counterfeit dollar supply. So far this year, Peruvian police have seized $17 million in false currency.

According to the director of the Peruvian National Police, Raul Salazar, the Quispe Rodriguez family is behind much of the counterfeiting in Peru. Although one of the family’s principal counterfeiters, Joel Quispe Rodriguez, was arrested last year, police believe that his younger brother, Raul Quispe Rodriguez, has continued operating. On August 2, Peruvian police seized $2.3 million dollars in counterfeit currency, which they believe was produced by the Quispe Rodriguez family. According to Salazar, the family planned to smuggle the fake bills into the US in tourist souvenirs.

InSight Crime Analysis

Peru’s production of quality counterfeit currency has attracted foreign organized crime, a police colonel with Peru’s anti-drug division told Peru21. On August 16, Peruvian authorities captured a Mexican national at Lima's international airport with $520,000 in fake bills. Police are investigating the man’s possible connection to the Mexican Sinaloa Cartel.

Distributing false currency can also be used as a method of money laundering for drug traffickers and other criminals. Peru's government vowed earlier this year to strike "heavy blows" against money launderers operating in the country after admitting that it had so far failed to produce convictions for the crime.

share icon icon icon

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

What are your thoughts? Click here to send InSight Crime your comments.

We encourage readers to copy and distribute our work for non-commercial purposes, with attribution to InSight Crime in the byline and links to the original at both the top and bottom of the article. Check the Creative Commons website for more details of how to share our work, and please send us an email if you use an article.

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

Related Content

ELITES AND CRIME / 2 JUN 2022

From unchecked agricultural development to wildlife trafficking, corruption greases the wheels of every environmental crime in the Peruvian Amazon.

COCAINE / 9 FEB 2021

The flow of cocaine to Europe may have suffered along with most licit businesses due to the Covid-19 crisis, but…

COCA / 11 JUL 2022

Following multiple killings, Indigenous leaders in the Peruvian Amazon are again facing threats of violence after coca eradication operations in…

About InSight Crime

LA ORGANIZACIÓN

Extensive Coverage of our Chronicles of a Cartel Bodyguard

23 SEP 2022

Our recent investigation, A Cartel Bodyguard in Mexico’s 'Hot Land', has received extensive media coverage.

THE ORGANIZATION

InSight Crime, American University Host Illegal Fishing Panel

19 SEP 2022

InSight Crime and the Center for Latin American & Latino Studies (CLALS) at American University discussed the findings of a joint investigation on IUU fishing at a September 9 conference.

THE ORGANIZATION

Impact on the Media Landscape

9 SEP 2022

InSight Crime’s first investigation on the Dominican Republic made an immediate impact on the Dominican media landscape, with major news outlets republishing and reprinting our findings, including in …

THE ORGANIZATION

InSight Crime Sharpens Its Skills

2 SEP 2022

Last week, the InSight Crime team gathered for our annual retreat in Colombia, where we discussed our vision and strategy for the next 12 months.  During the week, we also learned how to…

THE ORGANIZATION

Colombia’s Fragile Path to Peace Begins to Take Shape

26 AUG 2022

InSight Crime is charting the progress of President Gustavo Petro’s agenda as he looks to revolutionize Colombia’s security policy, opening dialogue with guerrillas, reforming the military and police, and…