Law 4557/2018, the Greek anti-money laundering law, asks obliged firms to know their customers, assess their risk and report suspicious transactions. We set up that system with you, keep it working and can take on the MLRO role.
Banks, investment firms, payment and e-money institutions, alternative investment fund managers and crypto-asset service providers.
The EU has adopted a single anti-money laundering regulation, Regulation (EU) 2024/1624, which applies from July 2027, and has set up a new EU authority, AMLA. Firms that plan now will change their policies once, in an orderly way, instead of at the last minute.
AML work is led by Panagiota Ch. Fitsorou, CICA, CCS, Head of Risk Management and Compliance Services.
The checks a firm makes before and during a business relationship: who the customer is, who owns or controls it, where its money comes from and whether its transactions make sense. Higher-risk customers get enhanced checks.
The individual who ultimately owns or controls a company, usually through more than 25% of its shares or voting rights (25% or more from July 2027), or through other means of control. Obliged firms must identify this person and verify who they are.
Many firms outsource it, within the limits their supervisor sets. Responsibility stays with the firm's management, so we agree in writing how we report and how fast we raise an issue with management.
Talk to us about checking it against the law.
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