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.

Source:  Steve Scherer, “500-Euro Bill Lifts Crime, Terror, Tax Risk, Bank of Italy Says,” BusinessWeek,  April 20, 2010.