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Greek finance ministry posts updated draft bill to tackle money laundering

07 February 18 - RE+D Magazine
Greek finance ministry posts updated draft bill to tackle money laundering

COMPANIES

NAI Hellas

Consultant - GREECE

PEOPLE

The finance ministry posted for public consultation an updated draft bill on tackling money laundering, which incorporates a relevant European Parliament Directive into Greek law.

 

The bill requires retailers and auctioneers to report to authorities any purchases of cars and precious stones exceeding 10,000 euros with cash, versus 15,000 euros that was the limit previously, as they are considered suspicious of possible money laundering.

In a separate provision, the supervision of pawnshops is transferred from the Independent Public Revenue Authority to the police.

The bill was posted on "Diavgeia", the online public registry of activities relating to public procurement and legislation and will remain there until February 9, 2018.

The EU Directive, titled "Prevention of the use of the financial system for the purposes of money laundering or terrorist financin", aims at strengthening transparency rules to prevent the large-scale concealment of funds.

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