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Fraud: Currency

Volume 487: debated on Wednesday 28 January 2009

To ask the Chancellor of the Exchequer whether he has made representations to (a) the euro area authorities on the abolition of the 500 euro banknote and (b) the United States administration on abolition of the 100 dollar bill as a means of making criminal payments more difficult. (250589)

Her Majesty’s Government recognise that high denomination banknotes can present a money-laundering risk, and we continue to work with our international partners through the EU’s Committee on the Prevention of Money Laundering and Terrorist Financing and the Financial Action Task Force (FATF) to reduce these risks where possible.