More than 1,000 bank accounts of taxpayers who declare small incomes – in many cases under €10,000 a year – but show deposits of hundreds of thousands of euros have been identified by the new automated system of AADE. This is BANCAPP, a new digital platform that cross-references real-time bank data with tax returns, immediately identifying any property additions not justified by declared income.

The platform operates with a direct connection to banks, payment companies and e-money institutions operating in Greece. Upon the issuance of a control order by the AADE, the system automatically sends a request to lift bank secrecy to “Tiresias” and providers, without human intervention. Responses are provided within two business days and include information on accounts, lockers, cards, investment products and even e-wallets, covering a period of up to five years.

Based on this information, the AADE auditors proceed to determine the taxable amount, comparing the amount of deposits and expenses with the income declared by each taxpayer. If an unjustified difference is found, the property addition is treated as business income and taxed at a rate of 33%.

The new tool allows the Hellenic Financial Supervisory Authority to cross the boundaries of bank secrecy without time-consuming procedures, while the entities involved are obliged to forward any available information related to deposits, financial products, loans or payments. All data is transmitted in encrypted form, with technical standards that ensure the confidentiality of the process.

The first lists of suspect cases have already been formed and the first taxpayers are being asked to prove that the money they have is…legally possessed.