Laundering Black Money with Refunds From Utility Bills — How the Circuit Worked
18 Articles
18 Articles
Supervisors used utility companies as “intermediary entities”, depositing large sums to pay off bills and demanding that the difference be returned to Greek bank accounts immediately after The post Laundering of black money with refunds from utility bills — How the circuit worked appeared first on in.gr.
Utility companies were unknowingly used as "intermediary entities" to launder illegal proceeds, as these ended up being deposited into individuals' bank accounts as refunds.
A new method of money laundering was revealed by the investigations of the independent authority to combat black money under the head of the Authority, Charalambos Vourliotis. The cunning ones managed to launder illegal money by paying utility company bills with amounts much larger than those indicated. They would then request that the difference be paid back to their bank account and thus “launder” the black money. Thus, the companies were unkn…
The Anti-Money Laundering Authority has identified a particular method for making funds that are considered suspicious and illegal appear legitimate, following an analysis of financial data. The focus is on the abusive exploitation of public utility companies, such as the Public Power Corporation (PPC) and other providers, which, according to the Authority's findings, are not
The Anti-Black Money Authority reveals the methodology with artificial overpayments to utility providers and refunds to Greek banks
The Anti-Money Laundering Authority has uncovered a money laundering scheme that unknowingly exploited public utility companies, such as the Public Power Corporation, to launder illegal funds through refunds to individuals' bank accounts.
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