A massive money laundering scandal is currently shaking Greece’s gambling market. According to consistent media reports, the Hellenic Anti-Money Laundering Authority, together with the national Gaming Commission, is investigating around 200 individuals – including senior civil servants and ministerial officials. The allegation: large sums of illicit money were laundered through licensed betting operators.
The alleged scheme was both simple and effective. Suspects opened betting accounts with licensed operators and deposited cash through partner outlets such as gas stations or supermarkets – without proof of origin. The funds were then declared as supposed winnings and legally transferred to personal bank accounts. This way, illegal inflows blended seamlessly with legitimate transactions. Investigators claim that in some cases amounts of up to €1 million were processed without any verifiable legal income (iGamingToday)
At least ten licensed gambling operators are under scrutiny, accused of either weak oversight or even possible complicity. The investigation is being led by Haralambos Vourliotis, former Deputy Prosecutor General and now head of the AML Authority. For Greece’s regulators, the case represents a major stress test: it questions the effectiveness of existing compliance mechanisms and could have international repercussions. Observers expect the Financial Action Task Force (FATF) to review the incident and potentially downgrade Greece’s AML rating (Protothema)
The scale of the scandal goes far beyond the gambling industry itself. The fact that public officials are at the center of the allegations has intensified political debate and further eroded trust. For operators such as OPAP, Stoiximan or Betsson, the reputational damage could be severe. Calls for stricter compliance measures and far-reaching regulatory adjustments are already growing louder.
One thing is certain: this case is among the most significant money laundering investigations in Europe’s gambling sector in recent years. It demonstrates how even licensed and supposedly well-regulated markets can remain vulnerable to criminal abuse – and underscores the importance of strong and independent supervision