09-13-2009, 02:02 PM
U.S. officials troubled by fake currency flowing from Peru
In the last year, agents have recovered about $8 million in fake notes across the U.S. and $18 million, as well as fake passports, in raids in Peru, authorities say.
By Josh Meyer, LA Times, September 13, 2009
A flood of high-quality counterfeit U.S. money from Peru is perplexing federal authorities, who say the shadowy networks that are responsible are also engaging in other criminal activity that poses a threat to national security.
Over the last year, authorities and banks have recovered at least $7.8 million in fake notes across the United States that they believe were manufactured in Peru, according to Secret Service statistics. In addition, $446,280 in fake U.S. cash from Peru was seized before it was spent during that same period, and more than $18.2 million more in raids in the South American country, the Secret Service said.
"And that's just a fraction of the notes that we can ally to Peru" worldwide, said John Large, the assistant special agent in charge of the Secret Service's criminal division at its headquarters in Washington. "It's a form of economic terrorism."
Besides costing U.S. citizens and businesses millions in losses, Large said, the international counterfeiting rings undermine confidence in U.S. currency. That is especially the case in countries in South America and elsewhere that have "dollarized" economies, in which U.S. bills are accepted as an official form of currency.
The Secret Service launched a special task force in February in partnership with the Peruvian National Police and stepped up training for Peruvian officials and bankers in how to go after counterfeiters. The State Department issued a warning to travelers last month, saying that "counterfeit U.S. currency is a growing and serious problem in Peru."
Full Story: http://www.latimes.com/news/nationworld ... 5022.story (http://www.latimes.com/news/nationworld/nation/la-na-counterfeit13-2009sep13,0,6755022.story)
In the last year, agents have recovered about $8 million in fake notes across the U.S. and $18 million, as well as fake passports, in raids in Peru, authorities say.
By Josh Meyer, LA Times, September 13, 2009
A flood of high-quality counterfeit U.S. money from Peru is perplexing federal authorities, who say the shadowy networks that are responsible are also engaging in other criminal activity that poses a threat to national security.
Over the last year, authorities and banks have recovered at least $7.8 million in fake notes across the United States that they believe were manufactured in Peru, according to Secret Service statistics. In addition, $446,280 in fake U.S. cash from Peru was seized before it was spent during that same period, and more than $18.2 million more in raids in the South American country, the Secret Service said.
"And that's just a fraction of the notes that we can ally to Peru" worldwide, said John Large, the assistant special agent in charge of the Secret Service's criminal division at its headquarters in Washington. "It's a form of economic terrorism."
Besides costing U.S. citizens and businesses millions in losses, Large said, the international counterfeiting rings undermine confidence in U.S. currency. That is especially the case in countries in South America and elsewhere that have "dollarized" economies, in which U.S. bills are accepted as an official form of currency.
The Secret Service launched a special task force in February in partnership with the Peruvian National Police and stepped up training for Peruvian officials and bankers in how to go after counterfeiters. The State Department issued a warning to travelers last month, saying that "counterfeit U.S. currency is a growing and serious problem in Peru."
Full Story: http://www.latimes.com/news/nationworld ... 5022.story (http://www.latimes.com/news/nationworld/nation/la-na-counterfeit13-2009sep13,0,6755022.story)