Peru is 'top source of counterfeit US dollars'

Peru has replaced Colombia as the number one source for counterfeit US dollars, according to the US Secret Service, which says around $103m in fake banknotes originating in Peru have been seized in the last 10 years.

The bulk of seizures have occurred since 2009 - when a single operation resulted in the discovery of $8.4m in fake 100 dollar notes. Peru's counterfeiters tend to make the notes using photolithography and offset printers but thanks to cheap labour can finish the notes by hand, achieving amazingly accurate copies compared to criminals who rely on the use of inkjet printing technology.

Colombia's position as the number one producer of fake dollars has been hit by a recent crackdown on the country's drug cartels - called Plan Colombia - which has resulted in dramatic reductions in cocaine production.

Organised crime groups around the world are turning to counterfeiting - of currency as well as other goods - as a relatively low-risk endeavour compared to the trade in narcotics and human trafficking.