Peru has become the new hub for fake dollars

The Peruvian city of Lima is the fake dollar capital of the world, according to the U.S. Secret Service. For the past four years, the U.S. government has declared Peru the world’s leading producer of fake US currency. The fake dollars are usually smuggled by plane, or post to the US, Venezuela, Argentina and other Latin American countries. Since 2009, local police has seized about $75 million in fake bills. It is believed that a gang can print between $3 million and $5 million in fake bills every week. Many choose the industry as the profit is even higher than cocaine production. Each $100 counterfeit bill can be sold in the black market for up to $20. Correspondent Dan Collyns travels to Peru’s capital. One counterfeiter gives him more details of the clandestine world. Watch Dan’s piece to see what is behind Peru’s counterfeit money production industry.