Report From the Frontlines on the War on Cash ( €500 Note Edition)

Peter Sands, former chief executive of British bank Standard Chartered has released a paper arguing that ditching high denomination bills such as the €500 note, would make life more difficult for individuals evading tax, organized criminals and terrorists.

 Sands’ report notes, a depositor with €1,000,000 in the bank could fit their entire account into a small handbag if turned into €500 notes.

-RW

(via WSJ)