COUNTERFEIT MONEY TRADE THRIVES IN BRAZIL AMID PANDEMIC

On 8 January, Insight Crime reported that Brazil has dismantled several large, sophisticated counterfeit cash rings in recent months, indicating that criminal groups are seizing on the economic crisis created by the coronavirus pandemic.  In December, an investigation revealed that Brazilian websites were found selling fake notes of 50, 100 and 200 reais ($10, $20 and $40) notes.  In November, São Paulo police dismantled a counterfeiting network that had put over 10 million reais (just under $2 million) of counterfeit bills in circulation.  Federal police seized more counterfeit money from January to July 2020 than in all of 2019.  To help citizens identify fake currency, the Central Bank of Brazil launched a smartphone app in 2014, which uses a photo of a banknote to verify the key security features are in order.  Brazil is not the only country in Latin America affected, with Peru and Colombia among the countries that have seen a proliferation in the counterfeiting of US dollars.  Counterfeiting in these countries has also been stoked by the demand for dollars in Venezuela.

https://www.insightcrime.org/news/brief/brazil-counterfeit-money-trade/

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing with my relocation, removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s