Fake money, a growing problem for Mexico

The number of counterfeit bills in circulation in Mexico grew in 2015.

According to the Bank of Mexico (Banxico), there were 71 fake bills for every million banknotes in circulation last year, which means that 306,063 counterfeit bills were detected, with a value of 99 million pesos (US$5.43 million).

There were more 20, 100 and 500-peso fake bills than 50, 200 and 1,000 pesos.

In an interview with EL UNIVERSAL Alejandro Alegre Rabiela, director of money issuing, acknowledged that the number of fake bills rose in 2015.

On December 17 the Attorney General's Office (PGR) and the Federal Police raided two buildings in Mexico City and two in the State of Mexico and arrested people suspected of counterfeiting. Authorities also seized the equipment found in the buildings.

"We hope that these arrests lead to a drop” in this crime in 2016, Alegre said.

According to the central bank this gang could have forged almost 20% of all fake notes detected in 2015.