Key Moments:
- The Hellenic Anti-Money Laundering Authority has uncovered a suspected laundering operation involving roughly 200 people, including officials and public employees
- Authorities have identified deposits as high as €1 million on gaming platforms, with funds lacking clear origin
- At least ten licensed operators are now under investigation for potential breaches of anti-money laundering regulations
Breaking Down the Investigation
Greece’s gambling industry is facing an unprecedented crisis after authorities revealed a large-scale money laundering probe implicating close to 200 individuals. The investigation, led by the Hellenic Anti-Money Laundering Authority, has drawn significant attention from throughout Europe’s iGaming sector due to both its scope and seriousness.
Those allegedly involved range from government officials to public sector workers, signaling a widespread issue with potentially far-reaching impacts. As regulatory bodies continue to examine the case, industry stakeholders are keenly aware that the sector’s standing depends on robust oversight and transparency.
Details of the Suspected Scheme
Investigators have detailed a process they describe as both simple and highly effective. According to findings, individuals would first set up accounts on legally authorized gambling platforms, each tied to a unique identification code. An intermediary would then deposit large amounts of cash at an affiliated retail outlet, loading these amounts directly onto the player’s gaming account—a maneuver that skirts the safeguards imposed by traditional banking.
Once the money was credited to the account, it could be easily transferred into a personal bank account, effectively legitimizing the funds. Authorities reported that individual deposits reached up to €1 million, with no means to trace the origins of these sums.
Focus on Licensed Operators
More than ten authorized operators have become subjects of the ongoing investigation, accused of potential breaches in anti-money laundering compliance. The inquiry highlights the urgent necessity for robust monitoring and enforcement systems among operators. Failure to maintain rigorous compliance not only invites regulatory penalties but also puts the industry’s reputation and stability at risk.
Regulatory Collaboration
Haralambos Vourliotis, the head of the Hellenic Anti-Money Laundering Authority and former Deputy Prosecutor of the Supreme Court, is leading the efforts in conjunction with the Hellenic Gaming Commission. This partnership aims to address regulatory vulnerabilities and restore public confidence in the sector.
Greece has emerged as a focal point for testing the agility and effectiveness of regulatory oversight, as European stakeholders recognize that fragmented controls cannot address transnational money laundering schemes.
Potential Impact on Europe’s iGaming Landscape
The scale of the Greek investigation highlights underlying risks for online gambling markets across Europe. As digital platforms play an ever-larger role in money movement, harmonized regulatory standards have become critical. The European Union may leverage these developments to drive further reforms and close loopholes between member states.
Industry at a Crossroads
With nearly 200 suspects and instances of million-euro deposits without clear provenance, this scandal has sounded an alarm for the online gambling industry. The consequences include not only immediate regulatory and financial repercussions, but longer-term damage to trust among consumers and investors—both of which are vital to sustained growth.
For the broader European iGaming sector, the directive is unmistakable: Anti-money laundering best practices must be at the heart of operational strategies. Cooperation between operators, national authorities, and European organizations is needed to ensure a transparent and resilient gambling market.
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This article was first published in Italian on 11 September 2025.
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| Aspect | Details |
|---|---|
| Number of Suspects | Approximately 200 |
| Maximum Individual Deposit Identified | €1 million |
| Operators Under Investigation | At least 10 licensed operators |
- Author
Daniel Williams
