The 500 Euro Bill and its Use in Money Laundering

According to the Bank of Italy, Mafia members, terrorists and money launderers are stockpiling the 500 Euro Bill because it is easy to transport and smuggle. The bank found that the highest concentration of the 500 Euro was by the borders Switzerland and San Marino where money laundering laws are less strict. The US Drug Enforcement Administration stated that $1 Million in $100 bills weighs 22 pounds, while $1 Million in 500 Euros weighs 3.5 pounds.

Mafia Loan Sharks in Italy

According to a Italian think tank, the Italian Mafia earns $17 billion (12.6 Euros) from loansharking each year. An estimated 180,000 merchants directly or indirectly receive their loans from the Mafia in Italy. Overall, the Mafia generates about $167 billion (130 billion Euros) in revenue.

Why the Mafia is Involved in Trash Smuggling

Slate Magazine explains why the Mafia is involved in trash smuggling. It’s Mob Economics 101: Find a business that’s easy to enter and lucrative to control. Criminal organizations make lots of money from drugs, human trafficking, and counterfeit goods, but creating a monopoly on garbage collection is attractive because the business itself is legal, and… Continue reading Why the Mafia is Involved in Trash Smuggling