71. Is it specified that a particular institution(s) is responsible for investigating money laundering that relates to political parties, candidates and elected officials?

The Bank of Greece, is the authority responsible for supervising credit and financial institutions and compliance with the legislative framework on the prevention and suppression of money laundering and terrorist financing (Anti-Money Laundering and Combating the Financing of Terrorism – AML/CFT – Framework) by the institutions supervised by it.

The Bank of Greece, in the context of its supervisory tasks, checks supervised institutions’ compliance with their AML/CFT-related obligations and assesses the adequacy and effectiveness of their AML/CFT procedures.

It should be pointed out that the Bank of Greece has no power to conduct preliminary investigations or to examine in substance suspicious transaction reports submitted by supervised institutions. These powers are reserved to the AML/CFT Committee, the law enforcement or judicial authorities, as appropriate.

By Law 3932/2011 which amended Law 3691/2008 the Anti-Money Laundering, Counter-Terrorist Financing Commission was renamed the “Anti-Money Laundering, Counter-Terrorist Financing and Source of Funds Investigation Authority”. The authority is a national unit aiming at combating the legalization of proceeds from criminal activities and terrorist financing, assisting in security and sustainability of fiscal and financing stability. Source: Repousis ,Spyridon, (2014),  Politicians, political parties

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