Laundering Black Money with Refunds From Utility Bills — How the Circuit Worked
21 Articles
21 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 money laundering ring from criminal activity, by natural persons, through utilities companies.
The Anti-Money Laundering Authority reveals the methodology for overpayments to electricity and water providers
The Anti-Money Laundering Authority has identified an organized method for laundering proceeds from illegal activities, using public utility accounts as a "vehicle".
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