Missing $100 notes may be funding criminal activity

AUSTRALIA'S missing $100 bills could be being stockpiled by criminals or those seeking to avoid taxes, an expert says, as momentum to axe high-denomination bills builds worldwide.

The Reserve Bank's website says there are 300 million $100 notes in circulation, compared with 165 million $5 notes, 116 million $10 notes and 157 million $20 notes.

The only note more abundant is the $50, with 608 million currently in use.

However, the $100 bill is rarely seen.

Swinburne University adjunct professor in marketing Steve Worthington said speculation was rife $100 bills, which are rarely stocked in ATMs, were being used for tax evasion and crime.

Read more at ABC News Online



Page family's World War II tragedy

Page family's World War II tragedy

Remembering the Page family

Russell asks where were the dignitaries at the Dawn Service?

Russell asks where were the dignitaries at the Dawn Service?

Russell Crowe calls out Coffs Harbour dignitaries after dawn service

Age no impediment for last of Grafton's diggers

Age no impediment for last of Grafton's diggers

Henry Caldwell has never missed an Anzac day since his service

Local Partners