News

Greece's government has developed stronger laws and regulations against illicit finance over the past several years but its already infrequent oversight of banks and other institutions for anti-money laundering purposes has dwindled even further. In a 223-page report published Tuesday, the Financial Action Task Force, or FATF, highlighted Greece's progress in placing AML rules on the books since the country's last evaluation in 2007, but criticized the government's persistent lack of onsite visits of banks and other institutions, dearth of prosecutions against money launderers and failure to monitor the shipping industry. Greek authorities assess the frequency of financial crime in...