Money laundering scheme involving Greek utility companies uncovered

Greek authorities have uncovered an elaborate money laundering operation involving utility companies. The scheme was identified following an extensive investigation by the Anti-Money Laundering Authority, led by honorary Deputy Prosecutor of the Supreme Court Charalambos Vourliotis, as reported on October 5, 2026.

Perpetrators used a sophisticated method to legitimize illicit funds by intentionally overpaying utility bills with large sums of money. Following the overpayment, they requested refunds from the utility providers. Because these refunds were processed by legitimate companies through standard financial procedures, the returned money appeared in the criminals' bank accounts as legal income, effectively washing the funds. The utility companies involved were utilized as unwitting intermediaries for these transactions, which originated from various financial products and credit cards.

Authorities are currently investigating the full scale of the operation and the specific mechanisms used to facilitate these transactions. The investigation aims to determine how many entities were affected and the total volume of laundered capital that successfully entered the legitimate economy.