Interim follow-up report to the Mutual Evaluation of Greece

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Interim Follow-up Report to the Mutual Evaluation Report of Greece

Interim FoR Greece.pdf
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Interim follow-up report to the Mutual Evaluation of Greece

The FATF has released an interim follow-up report, setting out progress made since the report of the third mutual evaluation of Greece, which was published in June 2007.

Since the publication of the mutual evaluation report, Greece has provided the FATF Plenary with progress reports on a regular basis. At the February 2010 Plenary meeting, Greece requested the publication of this progress report.

Ratings of Core and Key Recommendations in the June 2007 Mutual Evaluation report

During the assessment of its measures to combat money laundering and terrorist financing, Greece was rated partially compliant (PC) or non-compliant (NC) on 13 (out of 16) key and core Recommendations (see below). Due to these deficiencies, Greece was made subject to expedited follow-up proceedings starting in October 2007, as well as enhanced follow-up.

About the Interim follow-up report

This report is an interim follow-up report. Greece remains in the follow-up process until the publication of the final follow-up report. Greece may apply to come out of the follow-up process when satisfactory progress has been made in remedying the deficiencies noted in the report, in particular regarding the core and key recommendations. This report provides an update showing the progress that Greece has made since the adoption of the third mutual evaluation report. The information used for this report, the seventh progress report to the FATF Plenary, is based on information provided by Greece in relation to the follow-up process, and also on material submitted by Greece in relation to the International Co-operation Review Group targeted review.

The core Recommendations are:

  • Recommendations 1, 5, 10 and 13
  • Special Recommendations II and IV

The key Recommendations are:

  • Recommendations 3, 4, 23, 26, 35, 36 and 40
  • Special Recommendations I, III and V