Police in Peru have seized almost $30 million in counterfeit U.S. dollar bills in the biggest such bust in the country's history.

Operation Sunset was carried out in conjunction with the U.S. Secret Service and involved the arrest of 47 Peruvians and two Ecuadoreans in three Peruvian cities.

Peru is the world's largest manufacturer and distributor of counterfeit U.S. currency, responsible for almost 60 percent of the nearly $3 billion in false notes circulating worldwide.