HomeNewsBriefPeruvian Police Seize Counterfeit Dollars Bound for Ecuador
BRIEF

Peruvian Police Seize Counterfeit Dollars Bound for Ecuador

ECUADOR / 1 MAR 2013 BY MICHAEL TATONE EN

Peruvian Police seized nearly $12,000 in fake dollar bills at the border with Ecuador, underscoring Peru’s position as the world’s leading manufacturer of counterfeit dollars.

The seizure was the result of a police intelligence operation which had tracked the money from Lima, reported Correo. The package containing the bills arrived at the border by bus and was to be picked up by a 68-year-old man, who was detained by police. The man claimed he had no knowledge of its contents, and that he was paid approximately $20 by a group of Ecuadoreans to pick up the package and then deliver it to them at a prearranged meeting spot.

Officers waited at the meeting point to detain the Ecuadoreans, but they never arrived.

Police believe the counterfeit bills belonged to an Ecuadorean mafia group that prints the false bills in southern Peru, reported RPP.

InSight Analysis

In 2012, Peru surpassed Colombia to become the largest producer of fake bills in the world, responsible for 17 percent of fake bank notes in the United States, according to US authorities. A US-led crackdown on counterfeiting in Colombia is believed to be partly responsible for the increase in Peru, which lacks strong anti-fraud forces and anti-counterfeiting laws.

Counterfeiting groups in Peru mostly rely on sophisticated operations that use offset printers, a traditional printing technique, to produce large batches of high quality fake banknotes, reported Time. Most of the operations uncovered by police are in Lima.

Criminal groups in Peru also specialize in fake euro notes, as well as Venezuelan bolivares fuertes and Chilean and Bolivian pesos, which gives them the freedom to switch currencies if one currency is the target of anti-counterfeiting measures. In July 2012, members of the Quispe Rodriguez crime clan were arrested with $2 million in counterfeit dollars and 1.5 million in fake euros, reported the Peruvian Times.

This latest seizure would seem to suggest Peruvian counterfeit dollars are not only destined for the United States but also for the considerably closer market in Ecuador, where the US dollar is the official currency.

Compartir icon icon icon

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.

Tags

Related Content

ECUADOR / 30 APR 2012

Ecuador's government is planning to increase the armed forces' involvement in law enforcement, a move which, although a practical response…

GOLD / 9 FEB 2014

Slave-like conditions, frequent accidents, disease and sexual exploitation are a normal part of the illegal gold mining trade in Peru,…

ECUADOR / 20 AUG 2019

A string of inmate deaths after the deployment of extra troops and police to Ecuador's prisons illustrates that sending in…

About InSight Crime

THE ORGANIZATION

We Have Updated Our Website

4 FEB 2021

Welcome to our new home page. We have revamped the site to create a better display and reader experience.

THE ORGANIZATION

InSight Crime Events – Border Crime: The Northern Triangle and Tri-Border Area

ARGENTINA / 25 JAN 2021

Through several rounds of extensive field investigations, our researchers have analyzed and mapped out the main illicit economies and criminal groups present in 39 border departments spread across the six countries of study – the Northern Triangle trio of Guatemala, Honduras, and El…

BRIEF

InSight Crime’s ‘Memo Fantasma’ Investigation Wins Simón Bolívar National Journalism Prize

COLOMBIA / 20 NOV 2020

The staff at InSight Crime was awarded the prestigious Simón Bolívar national journalism prize in Colombia for its two-year investigation into the drug trafficker known as “Memo Fantasma,” which was…

ANALYSIS

InSight Crime – From Uncovering Organized Crime to Finding What Works

COLOMBIA / 12 NOV 2020

This project began 10 years ago as an effort to address a problem: the lack of daily coverage, investigative stories and analysis of organized crime in the Americas. …

ANALYSIS

InSight Crime – Ten Years of Investigating Organized Crime in the Americas

FEATURED / 2 NOV 2020

In early 2009, Steven Dudley was in Medellín, Colombia. His assignment: speak to a jailed paramilitary leader in the Itagui prison, just south of the city. Following his interview inside…