LARGE DENOMINATION BANKNOTES REMAIN ML VULBERABILUTY
November 21st, 2022
High value banknotes remain of concern to AML regulators, even though they are increasingly being withdrawn from circulation. Despite the growth of electronic payments, the amount of physical cash in circulation remains huge. The USD remains the currency that circulates most widely in the world, with the US Currency Education Programme (a Federal Reserve scheme) saying that there was USD2 trillion in circulation by the start of 2021 (December 31, 2020). Of this, USD1.6 trillion was in the highest denomination notes – USD100 - which have the highest utility for ...
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