Africa Awash in Deluge of Fake Dollars, Security Experts Say

African leaders want to ‘de-dollarize’ at same time as seizures of huge amounts of US currency are becoming common.

U.S. dollar banknote is seen in this picture illustration taken on May 3, 2018. Dado Ruvic/Reuters

JOHANNESBURG—In June 2023, Turkish security forces seized $1 billion of counterfeit money in Istanbul and arrested six people, including one Ghanaian and three Swedish citizens.

The counterfeit haul was the largest in Turkey’s history.