'Counterfeiting is an art': Peruvian gang of master fabricators

JulieW · Apr 1, 2016

http://www.theguardian.com/world/2016/mar/31/counterfeiting-peruvian-gang-fabricating-fake-100-bills

"Since 2009, in our investigations with the secret service, we have seized about $75m in fake bills," said Walter Escalante, head of the Peruvian national police's anti-fraud division. "We don't know what percentage entered the US illegally and has gone inside the financial system. We think that our $75m is the better part of what has entered the US."

Criminals suggested that Escalante was unreasonably optimistic and the actual production of counterfeit dollars was far higher. In a clandestine meeting with the Guardian in a seedy hotel room in Lima, a veteran counterfeiter with over 20 years in the business detailed how his gang alone was producing an average of $3m to $5m in fake $100 bills every week.

"To make these bills, you need 10 to 12 people," said Geraldo Chavez (not his real name), the counterfeiter. "One runs the machine, there is a designer, you have someone in charge of the supplies the paper, the inks you need someone to cut the bills, someone outside watching. The packer. At a minimum eight people, but usually eight to 12 people for the production to come out right."

Asked how long it takes to fill an order for $5m, Chavez replied: "About a week. You make the design, then organize the paper and then start printing pa! pa! pa!" He circled his hands in rotation, as he simulated the factory with six offset printing machines simultaneously pumping out money. "You have to work late in the night; the machines really make a lot of noise. That's why they are up in the hills, in prefabricated houses, away from people."

Workers are paid to thread security strips by hand into each bill. By soaking the bill, then inserting a needle, the counterfeiters add a final touch to make the fake bills appear authentic. Photograph: Jonathan Franklin for the Guardian

Chavez said the typical customer bought between $10,000 and$15,000, for which the buyer paid 20% of face value if they were a repeat customer or 25% if they were a newbie. "Once, we printed an order for $5m in fake bills for some Mexicans," said Chavez.
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RogueBeeKeeper · Jan 30, 2017

One could argue that every dollar printed on paper is counterfeit. The last valuable dollars are the gold, platinum and silver ones printed by the U.S mint.

Flyinfree · Jan 31, 2017

RogueBeeKeeper said:

One could argue that every dollar printed on paper is counterfeit. The last valuable dollars are the gold, platinum and silver ones printed by the U.S mint.
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Then it would be a shortage on "money" supply.

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'Counterfeiting is an art': Peruvian gang of master fabricators

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'Counterfeiting is an art': Peruvian gang of master fabricators

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