Greece appears to be a wide-open territory when it comes to “black” money, with hundreds of major tax evasion cases at the center of investigations by AADE and the Anti-Money Laundering Authority, as data from the first five months of 2025 reveals extensive criminal activity. More than 930 individuals came under scrutiny by regulatory authorities through bank account cross-checks, income audits, and transfers that cannot be justified by declared assets.
The investigations are part of a new legal framework that activates money laundering prosecution procedures, even for tax violations such as non-payment of income taxes, property taxes, and VAT on ships. However, cases involving fake invoices or cross-border VAT fraud are excluded. Additionally, banking, tax, telecommunications, and stock exchange confidentiality protections do not apply to those prosecuted for money laundering.
What the data reveals about “black” money
The statistics are revealing, as by the end of May:
• AADE sent 267 tax evasion cases exceeding €50,000 to the Anti-Money Laundering Authority.
• Referred 575 individuals with public debts exceeding €50,000.
• 469 criminal reports were filed for tax violations by audit services.
Simultaneously, the Authority for Combating Income Legitimization sent dozens of information requests to AADE for individuals under investigation for money laundering. From preliminary investigations, 90 individuals across 15 cases were identified and referred for tax audits. 63 audit orders were issued, while in 27 cases taxes and fines totaling €12.1 million were imposed.
The cooperation between the two authorities enables the exchange of confidential information with prosecutorial or other regulatory bodies when deemed critical for investigating financial crimes. The goal is complete mapping of suspects’ economic activities and cross-referencing declared income with actual earnings and assets.
High Wealth Tax Center joins the operation
The High Wealth Taxpayers Center (KE.ME.F.) is also operating at full capacity, focusing since last February on individuals and businesses with high incomes, significant assets, and intensive banking activity. By the end of May, 326 cases were audited, with taxes and fines of €26.42 million imposed, of which €20.3 million relates to undeclared income. From the assessed amounts, €2.75 million has already been collected.
