British banks have withdrawn the 500 euro note from sale because it is reportedly fuelling organised crime.
British police have found that 90 per cent of notes in circulation are used by criminal gangs involved with drug dealing and money laundering.
The financial crime writer, Jeffrey Robinson, says the 500 euro notes takes up less space, making it easier to smuggle across border.
"There is no purpose served with a 500 euro note except to aid criminals and drug traffickers. You could not put a million euros into one attache case without the 500 euro note. You can't do it with a million pounds. You need three and half attache cases," he said.
British police have found that 90 per cent of notes in circulation are used by criminal gangs involved with drug dealing and money laundering.
The financial crime writer, Jeffrey Robinson, says the 500 euro notes takes up less space, making it easier to smuggle across border.
"There is no purpose served with a 500 euro note except to aid criminals and drug traffickers. You could not put a million euros into one attache case without the 500 euro note. You can't do it with a million pounds. You need three and half attache cases," he said.
