BBC reports
news.bbc.co.uk/1/hi/scotland/glasgow_and_west/8493...m
It is said that the favourite currency for crime groups is ?500 euro notes (biggest $ is $100) but obviously some others are suspected of using cars as they are even more valuable.
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It's more down to money laundering, and the odd ringed motor no doubt.Eg you buy a car in for 2k, then sell it on. The original 2k will be dodgy, but the profit on sale is turned into legit money. Or 2k car sold for inflated price to dodgy friend with dodgy money making bigger profit, into bigger legit money. These places are always connected to drug running, supplying (hiring ) cars to undesireables, while registered in trade.
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Drove to Germany at the weekend. Am used to seeing signs at shops/garages saying "No 500 Euro notes" because of forgeries, etc., but they now seem to include 200 Euro notes as well now. Pretty soon it will be coins only!
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We got some Euros for a French colleague who needed a few thousand in cash and he was mortified when the money came in ?500 notes! He said they're impossible to change except in a bank and then they ask all sorts of questions.
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Some forgers use lateral thinking by trying to pass £50 notes.
The theory is that people rarely see them, so will be unable to detect a forged one.
The weakness of this plan is, of course, most people are reluctant to accept payment in £50 notes.
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For this reason £50's in Northern Ireland are non existent.
All £20's, it seems it is not as cost effective to forge them.
with the very very occassional £100.00 to be seen
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I've been in the Eurozone practically since day one and I've never seen a 200 euro note. I've only seen about one 100 euro note come to that.
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I have changed many of the ?100 and ?200 notes, and maybe 10-12 ?500 notes over the last five years travelling into France from outside Europe where the banks don't have so many of the smaller notes. Carrefour and Auchan supermarkets will accept the ?500 provided it is cleared with either the duty security guard or the main reception desk/caisse. Otherwise I have found them useful for placing deposits or pre-paying a rented flat when the sight of the cash swung a good deal. Admittedly, I would probably try to avoid them now because the no ?500 notices have begun to proliferate and French banks are often not customer-friendly even if you have an account with them. .
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£5 notes must be a nightmare to forge. You take it hot off your garage printing press, then have to subject it to a course of rough treatment - washing machine, tumble drier, workman's back pocket, tear it, sellotape the tear. and then finally rub in a trace of cocaine for true authenticity.
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Aye CLiff - The failure point would be to find a workman in this day and age !
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I have seen ONE 500 euro note . . . . .
In a Supermarket in Grasse when the lady in front of us offered on in payment for her 40 euros shoping. Girl on cash desk initially refused and called for help, supervisor called for manager who examined note carefully before agreeing to take it.
We will avoid them like the plague - after all it was almost £500 when we saw it, losing one doesn't bear thinking about.
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Caught a glimpse of that Piers Morgan fellow in Marbella saying something about 80% of 500 Euro notes end up in that town. Though he could have made it up I suppose.
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The little corner shop near us has a cash machine on the premises. This morning I withdrew some money from it and then bought something at the counter using one of the newly aquired £20 notes. The cashier held the note to the light to check its autheticity despite having watched me withdraw it from the machine right next to her. So in a fit of petty retaliation I said nothing but held the £10 note I received in my change to the light before putting it in my wallet.
She took offence to that. Wonder why ?
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Some people find it worth forging UK £1 coins - and a rotten job they make of them too!
I got £20 of change from a bank last week, 5 x £2 and 10 x £1. Of the £1 coins 2 were forgeries. Apparently about 1 in 50, overall, are forgeries.
Edited by Armitage Shanks {p} on 03/02/2010 at 16:06
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