Peru open first Latin American anti-forging office

PERU - Peru, fighting an aggressive trade in forged bills and coins, opened on Tuesday Latin America's first office that will work with U.S. and Colombian secret services to stamp out counterfeit cash.

"The office was necessary because (counterfeiting) has increased a great deal recently, Reuters reported. Since 1994, the production of faked bills has grown almost 1,000 percent and since 1998, falsification of coins rose 4,408 percent," Interior Minister Gino Costa told reporters at the office