Big five accountancy firm PricewaterhouseCoopers (PwC) has warned of an increase in the risk of money laundering presented by the switch to the euro.
Andrew Clark, head of anti-money laundering services at PwC, said: “Multinational banks and small businesses must wake up to the threat from money launderers during the conversion period. The changeover of 12 European currencies to the euro presents a unique opportunity for criminals around the world to mingle legitimate and non-legitimate currency.”
