By Prokopis Hatzinikolaou

The buying and selling of gold, a growing phenomenon in Greece over the last three years, has forced the Financial Crimes Squad (SDOE) to investigate the origin of money used for gold purchases in the form of coins and bars.

Banks responded immediately and forwarded the details of some 600 people who bought gold as well as the data of those selling the precious metal since 2009.

The first checks by SDOE have shown that about 70 people bought gold, spending over 200,000 euros each, and will be more closely investigated for any suspicious activity. If their stated income does not justify their purchases, SDOE will then open their bank accounts for further examination.

Many Greeks have recently resorted to buying gold, seeing it as a safe investment.