Commission action against Greece over money-laundering law errors
The Brussels Commission has launched disciplinary proceedings against Athens because it failed to properly transpose a European directive on combating the legalisation of proceeds from criminal activities.
Commission action against Greece over money-laundering law errors
The European Commission has initiated infringement proceedings against Greece, sending a warning letter (INFR(2026) 2072) because the country failed to properly implement part of European legislation designed to limit the legalisation of proceeds from illegal acts.
The relevant EU directive (EU) 2018/1673 establishes criminal penalties for those who convert money from criminal activities into legitimate funds, preventing perpetrators from using the judicial systems of the European Union. It also facilitates cooperation between member states in investigations and prosecutions of financial offences.
According to Brussels, Athens failed to adequately transpose specific provisions of the directive, such as penalties and offences relating to the conversion of illegal proceeds. Similar warnings were also sent to Luxembourg (INFR(2026) 2073) and Sweden (INFR(2026) 2074).
The three member states have a deadline of two months to respond and to correct the problems identified by the Commission. If the response is insufficient, the Commission may proceed to issue reasoned opinions.
Source: Efimerida ton Syntakton