This week, we examine how Venezuela’s protracted economic crisis and rampant dollarization have fed the demand for counterfeit dollars.
** Weekly InSight
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October 13, 2023
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This week, we investigate ([link removed]) how Venezuela’s protracted economic crisis and rampant dollarization have fed a national demand for counterfeit dollars. Criminal groups in neighboring Colombia and Peru have ramped up their counterfeit production to supply this demand and transformed useless Venezuelan bolivars in the process.
In Colombia, we speak to “Jerónimo,” the spokesperson of the Shottas gang, one of the two groups involved in peace talks with the Gustavo Petro government in the Pacific port city of Buenaventura, a principal departure point for drugs. And in the department of Cauca, we examine ([link removed]) why the killings of social leaders are at their highest since 2016.
We also ask whether the capture ([link removed]) of Venezuelan crime boss, Guillermo Rafael Boscán Bracho, alias “Yiyi,” in Argentina signals a turning of the tide for other Venezuelan gang leaders abroad and explore ([link removed]) the Chilean government's attempts to take back public space from organized crime by tearing down narco-mausoleums.
** Featured
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** How Counterfeit Dollars Have Overrun Venezuela ([link removed])
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In the heart of the commercial sector of the Sabana Grande neighborhood, in Caracas, Venezuela, more and more vendors have been forced to acquire electronic equipment to identify counterfeit dollars.
“I’ve personally spotted fake dollars -- I recognize them by the texture,” says Consuelo*, the manager of a store in the area. “When I grab them, I know right away that they are counterfeit. I’ve picked up $100 and $20 bills.”
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** NewsAnalysis
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** Gang Leader Promotes Peace in Strategic Colombian Port ([link removed])
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Buenaventura is Colombia’s main port on the Pacific seaboard and one of the principal departure points for drug shipments…
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** New Money, Old Strategies in Brazil’s Anti-Crime Plan ([link removed])
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Brazil has announced a new national security program to counter organized crime amid a spike in violence. But…
What Does Capture of ‘Yiyi’ Mean for Other Venezuelan Crime Bosses Abroad? ([link removed])
Jailhouse Murders of Colombians Hardens Political Rhetoric in Ecuador ([link removed])
Social Leaders in Cauca, Colombia Face Down Threats From Crime Groups ([link removed])
In Cauca, Colombian Rebels Make War While Talking Peace ([link removed])
** Impact
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What We Do > ([link removed])
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InSight Crime's in-depth investigation ([link removed]) into the expansion across South America of Tren de Aragua, Venezuela's notorious homegrown gang, has sparked interest across the region. Tens of thousands have read the investigation since it was published last week, and leading regional news outlets have also republished ([link removed]) it on their sites.
Read the full investigation here > ([link removed])
** This Week's Criminal Profile: The ELN
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The National Liberation Army (Ejército de Liberación Nacional – ELN ([link removed]) ) is Colombia’s last true insurgency and one of Latin America’s most powerful criminal organizations. Due to its expansion and strengthening in Venezuela in recent years, it has established itself as a binational guerrilla.
Initially, the ELN was a nationalist movement influenced by the Cuban revolution, focused on kidnapping, extortion, and attacking oil infrastructure. Although it avoided any involvement in drug trafficking for decades, it has become deeply involved in the international drug trade in recent years.
Read our ELN profile > ([link removed])
Read our recent coverage of the ELN > ([link removed])
** Media Mentions
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October 11, 2023
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"When cases are made everyone wins. The narcos get lower sentences and get to keep some proceeds, the prosecutors and agents get promotions, and the lawyers rake in the money. The only loser is Lady Justice,” InSight Crime co-founder, Steve Dudley, told the Associated Press."
Read our most recent analysis of DEA operations in Latin America here> ([link removed])
** Our Trending Topics
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VENEZUELA ([link removed])
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