Main Focus Areas:
- Overview of current legal provisions regarding threatened criminal sanctions following Law 4816/2021.
- Assessment of the transposition of EU Directive 2018/1673 on combating money laundering into Greek law.
- Comparative analysis with Law 4557/2018 on the prevention and suppression of money laundering.
- Application of intertemporal criminal law based on Article 2(1) of the Greek Penal Code, favoring the most lenient legal framework.
💰 Key Legal Definition – Money Laundering Acts:
Money laundering, under Greek law, includes the following actions when the individual knows the assets stem from criminal activity:
- a) Conversion or transfer of property to conceal its illicit origin or assist others in evading legal consequences.
- b) Concealment or misrepresentation of the nature, source, location, ownership, or rights related to property derived from criminal conduct.
- c) Acquisition, possession, or use of property known to be the proceeds of crime.
- d) Use of the financial system to introduce illicit funds, aiming to give them a legitimate appearance.
⚖️ Legislative Evolution:
- Law 2331/1995
- Law 3424/2005 (Amendment)
- Law 3691/2008
- Law 4557/2018
- Law 4816/2021 (Recent reform)
Critical Reflections Raised:
- Is the principle of proportionality respected in sentencing?
- Has the Greek legislator treated all forms of money laundering with the same criminal gravity?
- Are the penal thresholds excessively strict, and do they effectively serve the goals of general deterrence?
