Greece’s Independent Authority for Public Revenue (AADE) will significantly intensify audits of suspicious banking transactions and investment dealings from the beginning of the new year, using 2024 as the base year for investigations.

As 2025 draws to a close, the Authority has already launched an aggressive data-gathering campaign to prepare for large-scale cross-checks and audits, while systematically identifying financial institutions that have failed to submit reports on suspicious client transactions, despite being legally required to do so.

Focus on Complex Financial Schemes

The expanded audits will cover banking transactions, deposit movements, and investment activity involving individuals who use complex financial structures and sophisticated investment vehicles, both in Greece and abroad, in an effort to evade taxes or launder illicit funds.

At the same time, AADE is turning its attention to financial institutions themselves, particularly those that have so far failed to flag potentially suspicious clients. According to an investigation by Business Stories, the Authority has sent formal warning letters—effectively ultimatums— to selected institutions that have not submitted any data on suspicious customer activity, despite their statutory obligations.

Banks, Funds, and Card Issuers Under Scrutiny

AADE has identified domestic financial institutions—including banks, credit card issuers, investment firms, and investment funds—that have failed to provide the required information.

To finalize the lists of taxpayers who will be audited in 2026, the Authority has given these institutions a final deadline of December 10, 2025, to submit written declarations identifying which clients they consider suspicious, or to formally state that they have detected no suspicious activity at all.

The data collected will be used to conduct extensive cross-checks aimed at uncovering tax evasion and illegal financial flows, as part of a broader effort to strengthen financial transparency and enforcement.