12 Dec Hellenic Ministry of Finance establishes Workgroup on Money Laundering
FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system.
In the light of the upcoming FATF review of Greece, the Greek Ministry of Finance has assembled workgroups to assess the national risks of money laundering and terrorist financing.
Alexandros Tsagkalidis has joined the National Risk Assessment Workgroup on Money Laundering as representative of the Hellenic Criminal Bar Association. The mission of the Workgroup is to collect and analyse data and evaluate the threats of money laundering in Greece using methodologies developed by the World Bank. Once these risks are properly understood, Greece can apply AML/CFT measures that correspond to the level of risk, according to the risk-based approach (RBA). This approach, which is central to the FATF Recommendations, will enable Greece to prioritise its resources and allocate them efficiently.