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 has shown improvement in its corruption perception, scoring 49 out of 100 and ranking 59th out of 180 countries, largely due to structural reforms over the past decade. 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, necessitating urgent action to enhance its anti-corruption strategies.

Greece's economy has shown significant recovery following the financial crisis, with the government implementing extensive reforms and attracting foreign investments, particularly in sectors like renewable energy and technology. The country regained an investment-grade sovereign debt credit rating in late 2023, and foreign direct investment (FDI) flows reached $7.6 billion in 2022, reflecting one of the highest growth rates in Europe. Despite ongoing challenges such as bureaucracy and inflation, the government anticipates continued robust economic growth supported by substantial European Recovery and Relief Facility funds.

Greece has made significant strides in improving its investment climate following the financial crisis, with the government implementing a series of reforms aimed at attracting foreign direct investment (FDI). In 2022, FDI flows reached $7.6 billion, reflecting one of the highest growth rates in Europe, and the country regained an investment-grade sovereign debt rating from major agencies. Despite ongoing challenges such as bureaucratic complexity and a slow judicial system, Greece continues to seek high-quality investments, particularly in sectors like energy, technology, and healthcare.