Scrap the €500 note, says influential foreign policy body

The €500 note should be abolished because it is mainly used in criminal circles, according to the government’s influential advisory council on international affairs AIV.

The recommendation is contained in a new AIV report on cross-border crime and corruption. The report states the Netherlands should continue to combat cross-border crime by focusing on following the money.

‘Money is moved around outside the official banks, via information channels, internet or in cash,’ the report states.

Earlier this year, Labour MPs called for the €500 note to be scrapped because of its popularity in organised crime.

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