Regulatory Alerts2009-07-09
Indicative Typology of Unusual or Suspicious Transactions under Law 3691/2008
The Banking and Credit Committee of the Bank of Greece has abolished its previous suspicious transaction table and replaced it with an updated indicative typology to identify money laundering and terrorist financing risks. This comprehensive framework details specific warning signs across twelve categories, including inadequate customer identification, anomalous fund transfers, unexplained cash movements, trade-based laundering, real estate transactions, and the use of corporate vehicles or new payment methods. The revised guidelines also establish special typologies for fund transfer intermediaries and bureaux de change, ensuring alignment with Financial Action Task Force recommendations and Greek anti-money laundering legislation.
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