In Greece, a large-scale investigation has revealed an unprecedented money laundering scheme: public officials and civil servants are alleged to have used licensed gambling platforms to transform suspect funds into legitimate winnings. The scandal, which implicates up to ten operators and nearly 200 people, is putting the credibility of the gambling sector and the solidity of the Greek regulatory framework to the test.
Suspicions that shake Greek institutions
Greece is facing one of its biggest recent financial scandals. According to the Greek Anti-Money Laundering Authority, headed by former deputy supreme court prosecutor Haralambos Vourliotis, nearly 200 people are now being prosecuted. Among them are high-ranking civil servants and ministerial officials, accused of using licensed gambling platforms to conceal the origin of dubious funds.
The figures are startling: deposits of up to one million euros have been identified, with no correspondence with the official income of the account holders.
The scheme behind the game
The investigation reveals a methodical pattern. Individuals would open an account with an approved operator, thereby obtaining a unique personal code. Rather than funding their account via banks, they would hand over large sums of cash to affiliated retailers: service stations, mini-markets or local kiosks.
These outlets would then validate the online deposits using the code, transforming bundles of cash into gambling credits. Finally, the funds were laundered as legitimate gambling winnings, directly transferred to bank accounts. A perfect loophole for disguising dirty money as clean money.
Leading operators in turmoil
At least ten licensed gambling operators are currently under investigation. Investigators are seeking to determine whether they deliberately turned a blind eye to these practices or failed to meet their anti-money laundering compliance obligations.
An affair with international consequences
This scandal does not only concern Athens. Greece’s reaction is being closely watched by the Financial Action Task Force, the international body responsible for monitoring countries’ anti-money laundering measures. The country will soon be re-examined, and the outcome of this affair will weigh heavily in the assessment.
For the Greek authorities, this is a decisive test: to prove that their legal framework is robust enough to withstand such misappropriations, and to restore confidence that has been damaged. For gambling operators, the challenge is just as great: to demonstrate their transparency and their ability to monitor financial flows effectively.