SPAIN HIGH VALUE EURO NOTES REPORT MONEY LAUNDERING FEARS
June 1st, 2006
BY KEITH NUTHALL
THE BANK of Spain has launched an inquiry into the concentration of Euro 500 banknotes in its country, something it fears is due to money laundering, maybe by criminals living in the notorious Costa del Crime, in the south. When the European Central Bank (ECB) launched Euro notes and coins in January 2002, just 3.5% of the 13 million Euro 500 banknotes were released in Spain. But now the Bank of Spain says this share is 26%, with Euro 500 notes outnumbering Euro 5 notes, El Pais newspaper has claimed. Spain's anti-money laundering agency ...
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