The European Commission has launched infringement proceedings against Greece for failing to correctly transpose parts of an EU directive aimed at combating money laundering into national law.
In a statement Thursday, the Commission said it had formally notified Greece, along with Luxembourg and Sweden, of shortcomings in the implementation of the directive, including provisions relating to money-laundering offences and penalties.
The directive establishes common criminal offences and sanctions for money laundering across the European Union, with the aim of preventing criminals from exploiting differences between national legal systems. It is also intended to strengthen police and judicial cooperation and improve the effectiveness of investigations and prosecutions involving financial crime.
The Commission said the three countries now have two months to respond and address the issues identified.
If the responses are deemed unsatisfactory, Brussels may proceed to the next stage of the infringement process by issuing reasoned opinions, a formal step that can ultimately lead to a case before the EU’s top court.
