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Mexico's counterfeit money

posted Mar 3, 2019, 10:27 AM by Baja King   [ updated Mar 3, 2019, 11:02 AM ]
Fake 50 peso bill
During Mexico’s past administration, the counterfeiting of banknotes shot upwards, with 2018 showing the highest number of fake bills seized in the past six years: A total of 338,686, according to Mexico’s Central Bank (Banxico). Around 1.73 million counterfeit bills were seized during the administration of Enrique Peña Nieto, which represented a 12.5% increase with regard to the previous administration. Last year, the central bank reported that there were 66.8 counterfeit pieces for every million of authentic pieces in circulation.
As for the MXN$500 bill, there were 70.9 counterfeit pieces per million. In 2018, a total of 156,425 counterfeit MXN$500 bills were seized, which stands in contrast with the 43,115 bills seized in 2007. In 2011, Mexico’s Central Bank signed a collaboration agreement with the Attorney General’s Office (PGR), as well as with the Ministry of Interior (SEGOB) and the Federal Police’s National Security Commission in 2014 to prevent and fight counterfeiting.
As a result of the agreement, both the PGR and the Federal Police arrested an alleged counterfeiter in 2016 and secured numerous counterfeit bills and coins that were circulating in Mexico City and the State of Mexico, as well as other materials with which the suspects made the pieces.

500 pesos notes

Find the full report here at El Universal.com