European banks confident of managing crime risk to euro cash

NEWS

BRUSSELS -- Leading European banks are concerned that the introduction of euro notes and coins on January 1 next year could increase the risk of money laundering, counterfeiting and financial crime.

But most are confident their systems and controls can contain any threat, say officials with European banking organisations and regulatory authorities.

"Banks are used to the threats posed by financial criminals. The risk posed by euro notes is a question of degree rather than kind," says one banke

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