FATF status

Greece is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Greece was undertaken in 2019. According to that Evaluation, Greece was deemed Compliant for 15 and Largely Compliant for 22 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 5 of the Effectiveness & Technical Compliance ratings.

Greece scored 49 out of 100 on Transparency International’s 2023 Corruption Perception Index, ranking 59th among 180 countries, reflecting a gradual improvement from a score of 36 in 2012 due to structural reforms. However, concerns remain regarding the rule of law, the independence of the national transparency authority, and the safety of journalists, particularly following allegations of unlawful surveillance by the intelligence service. Despite being a signatory to various anti-corruption conventions, Greece faces challenges in effectively combating both domestic and foreign bribery, with recommendations from the OECD emphasizing the need for increased awareness and resources to tackle these issues.

Greece's economy has shown significant recovery following the financial crisis, with the government focusing on reforms and attracting investments, particularly in innovation and renewable energy. The country regained an investment-grade credit rating in 2022, and foreign direct investment (FDI) reached $7.6 billion in 2022, reflecting one of the highest growth rates in Europe. Despite improvements, challenges such as complex bureaucracy and a slow judicial system continue to affect the investment climate.

Greece has made significant strides in improving its investment climate following the financial crisis, with a focus on economic reforms and attracting foreign direct investment (FDI). The country regained an investment-grade credit rating in 2023 and saw FDI flows reach $7.6 billion in 2022, reflecting one of the highest growth rates in Europe. Despite ongoing challenges such as complex bureaucracy and a slow judicial system, the Greek government continues to implement reforms and digitalize services to enhance competitiveness and attract high-quality investments.