Report: 500-Euro bill lifts crime risk
source: http://bit.ly/9RiFy7
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Mafia money launderers, terrorists and tax dodgers may be accumulating 500-euro bills because they’re easy to hide and transport, the Bank of Italy said in a report.
“The wide diffusion of the 500-euro bill is a motive of possible concern in terms of fighting both money laundering and terrorism financing,” the June 2009 report prepared by the central bank’s financial intelligence unit said. “Cash is the ideal tool for illegal payment and movement of funds” and “the high-value banknote simplifies the logistical management of large sums of money,” according to the study.
“The wide diffusion of the 500-euro bill is a motive of possible concern in terms of fighting both money laundering and terrorism financing,” the June 2009 report prepared by the central bank’s financial intelligence unit said. “Cash is the ideal tool for illegal payment and movement of funds” and “the high-value banknote simplifies the logistical management of large sums of money,” according to the study.
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- tags:
- Italy, Organised crime, Money Laundering, Counterfeit, 1 more
