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.
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