Estate agents, accountants, notaries, the banking sector and money transfer providers are categorized as high-risk for money laundering in Greece, according to a Finance Ministry report on assessing the national risks of money laundering and terrorist financing.
“Financial crimes, fraud and corruption are getting ever more difficult to identify and investigate due to their complexity, thereby having a negative impact on the economy,” the ministry notes in its report.
Investigations in the last five years have shown an increase in fraud, corruption and bribery at organizations and corporations, hampering Greek entrepreneurship and undermining the competitiveness of the economy. It is no coincidence that the illegal economy in Greece is estimated at about 20 percent of the national income – i.e. more than 36 billion euros per annum.
The list of high-risk professions also includes traders of expensive goods, as they are used by criminal groups to legitimize revenues from criminal activity, mostly concerning smuggling or crimes against property.