International Drug Rings Switch to Euro €500 Notes

December 7, 2009

(ChattahBox)—A report by Europol, the European Union’s criminal intelligence agency, reveals that international drug smugglers now stash their drug money using space-saving €500 bank notes, instead of the more bulky $100 bills. Once the drug smugglers and launderers successfully transport the Euro notes to Europe, they can easily be exchanged to US currency.

US Law enforcement officials recently uncovered about $16 million worth of drug profits in €500 bills, stashed on a British Airways plane bound for London.

Rob Wainwright, director of Europol has been tracking movements of the smuggled €500 notes across Europe.

“We have seen examples of high denomination notes hidden in cereal packets, tyres, concealed compartments in lorries, and so on,” said Wainwright.

Source


Comments

2 Responses to “International Drug Rings Switch to Euro €500 Notes”

  1. Euro Money – Europe Calls for Strong Dollar, Asian Currencies – NewsMax.com « Euro Money on December 8th, 2009 8:05 am

    […] International Drug Rings Switch to Euro €500 Notes – Chattahbox.com(ChattahBox)—A report by Europol, the European Union’s criminal intelligence agency, reveals that international drug smugglers now stash their drug money using space-saving €500 bank notes, instead of the more bulky $100 bills. Once the drug […]

  2. Stephen on December 12th, 2009 4:22 am

    Anyway Euro is still better than US$

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