ECB Downplays Money Laundering Fears Over New €200 Note

The European Central Bank (ECB) has downplayed concerns that high-denomination banknotes are easily used for money laundering. Executive Board member Piero Cipollone, responsible for banknotes, stated that there are now better ways to clean up illicit earnings. The comment came during questioning at an event in Brussels about the inclusion of a €200 note in the next series of euros.

Cipollone emphasized that money laundering concerns should not halt the issuance of the new bill. He pointed out that other methods have become more prevalent for cleaning dirty money, making high-denomination banknotes less attractive to those involved in illicit activities.