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money laundering

Corfu Island Bars Caught Reselling Unfinished Drinks

Greek authorities have uncovered a concerning practice in some bars on Corfu island, a popular tourist destination. During an operation aimed at identifying tax evasion and the sale of illegal beverages, auditors, led by the Independent Public Revenue Authorities...

Google Launches Anti Money Laundering AI

Google Cloud made an important announcement on June 21, 2023. They have introduced a new product called Anti Money Laundering AI (AML AI). This product utilizes artificial intelligence (AI) to assist global financial institutions in detecting money laundering more...

Europe’s Notorious Money Launderer Arrested in Greece

Police in Greece arrested a notorious money launderer, who, according to Europol, was cleaning the dirty money of the world’s foremost criminals, including drug cartels. According to Greece's Financial and Economic Crime Unit (S.D.O.E.) the 52-year-old suspect is a Greek...

Cyprus Vacillating on Russia Flight Ban

The many financial ties Cyprus has with Russia appear to be causing Nicosia to vacillate on the terms for its own airspace ban on Russian flights that was called for in response to the Russian invasion of Ukraine. Just the...

London Money Laundering Raid Nets Almost $250 Million in Bitcoin

London's Metropolitan police seized nearly £180 million ($248,993,100) of bitcoin on Tuesday as part of a money laundering investigation.

TIME to be First Magazine to Accept Cryptocurrency in Drive for Innovation

In a groundbreaking move, TIME Magazine announced that it would begin accepting Crypto, a digital cryptocurrency, for subscriptions.

Cyprus Passport Scheme Report Cites Lax Oversight

A Cyprus passport scheme, involving officials selling passports to felons, was uncovered this summer in a sting operation by journalists.

Cyprus Suspends Golden Visa Program Due to Corruption Allegations

The nation of Cyprus has abruptly stopped the issuance of Golden Visas after a press report  and video showed alleged corruption in the process, in which foreigners were welcomed to pay for a visa allowing them residence in the...

Witness: I Helped Jailed Greek Ex-Minister Send €2.5 Million Abroad

A civil engineer who testified prior to the arrest of former minister Yiannos Papantoniou and his wife Stavroula Kourakou on money laundering charges, told prosecutors that he had helped the couple transfer €2.5 million in cash abroad. Papantoniou and his...

Occupations at High Risk of Money Laundering in Greece

Realtors, lawyers, accountants, notaries, members of the banking industry, high-end retailers, and money transfer agents are in the high-risk money laundering group in Greece, according to a Finance Ministry report. The report entitled "National Money Laundering and Terrorist Financing Risk...