International drug cartels have abandoned the US dollar for high denomination euros to launder millions in illegal profits, Europol has revealed. The gangs no longer use $100 bills because €500 notes - the largest denomination of euro - take up less room when transporting large amounts of cash across the world.In a single consignment on a British Airways plane bound for London from the United States, US police found £11m worth of drug profits in €500 bills. The Colombian and Mexican cartels' conversion to the European currency is even acknowledged in popular culture: American rapper Jay-Z's video for his single, Blue Magic, features a suitcase full of €500 notes as he sings about "the kilo business"
International drug cartels have abandoned the US dollar for high denomination euros to launder millions in illegal profits, Europol has revealed. The gangs no longer use $100 bills because €500 notes - the largest denomination of euro - take up less room when transporting large amounts of cash across the world.
In a single consignment on a British Airways plane bound for London from the United States, US police found £11m worth of drug profits in €500 bills. The Colombian and Mexican cartels' conversion to the European currency is even acknowledged in popular culture: American rapper Jay-Z's video for his single, Blue Magic, features a suitcase full of €500 notes as he sings about "the kilo business"
Something that was not true about 1000 DM notes....
