Greece Country Summary
Medium-Low Risk
View full Ratings TableSanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.
Anti Money Laundering
FATF Status
Greece is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Greece was undertaken in 2019. According to that Evaluation, Greece was deemed Compliant for 15 and Largely Compliant for 22 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 5 of the Effectiveness & Technical Compliance ratings.
Sanctions
There are currently no international sanctions in force against Greece.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 49 |
| World Bank: Control of Corruption Percentile Rank | 58 |
Greece faces significant challenges related to crime and corruption, with human trafficking, drug trafficking, and financial crimes being prevalent issues. While the government has made strides in addressing corruption through structural reforms, concerns remain regarding the independence of judicial and law enforcement bodies, as well as the pervasive influence of organized crime and political corruption on society.
Economy
Greece's economy has shown significant recovery and growth following the financial crisis of 2009-2018, driven by a robust investment and reform agenda. The government has enacted numerous economic-related laws, including a pivotal investment law in 2019 aimed at reducing unemployment and enhancing digitalization of services, which has contributed to a favorable investment climate. With a return to investment-grade sovereign debt ratings and substantial foreign direct investment (FDI) inflows, particularly from the United States, Greece is poised for continued economic expansion, bolstered by €32 billion in European Recovery and Resilience Facility funds and ongoing reforms in sectors like renewable energy and technology.
Subscribe to
Professional Plus
- Unlimited Access to full Risk Reports
- Full Dataset Download
- API Access
- Virtual Asset Risk Assessments
