We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Lawbird’s Antonio Flores reveals what you may not know about €500 ‘BinLaden’ notes and cash payments in Spain

5 2 0

STRICTER monetary controls may soon see €500 notes being ‘sold’ on the black market for a lesser sum in smaller denomination.

For example, a single ‘BinLaden’ (as they are unofficially called) could be sold for say €400 in €20 or €50 notes, in a transaction akin to ‘laundering’ money.

This is already happening in exotic destinations such as the Dominican Republic and Cuba.

The reason lies with the increasing levels of supervision that Spanish authorities wish to bring in to curb – if not altogether eliminate – illegal money, most of which is........

© Olive Press