Authorities in Greece are taking significant strides to tackle the country’s thriving black market.
Kyriakos Pierrakakis, the Minister of National Economy and Finance, has unveiled a zero-tolerance approach to black market operators through a new public decree, which will mandate harsher punishments of up to ten years for the worst offenders, as well as financial penalties ranging from €50,000 to €100,000.
“The numbers are shocking,” Minister Pierrakakis told lawmakers, as he estimated that the black market is currently worth €1.6bn, meaning the Greek economy is losing out on at least €500m annually.
“This is not simply a leak of public resources; we are combating a deep social pathology that requires a modern and uncompromising response.”
Alongside operators, Pierrakakis is also proposing to target players as part of the crackdown, making them criminally liable for engaging with the sector.
Although full details have not been made public regarding the extent of punishments, “repeat participation” will trigger enforcement action against players, as lawmakers argue the drastic move is needed to attempt to thwart the black market.
In addition, municipalities will be given greater power to revoke operating licenses connected to illegal play, and the Hellenic Gaming Supervision and Control Board (EEEP), Greece’s gaming regulator, will be given expanded investigative authority and stronger enforcement mechanisms.
The upcoming legislative efforts sit alongside action already taken by EEEP to curtail the black market, after the regulator launched a task force in July to “combat the scourge” of illegal gambling networks.
Meanwhile, the Greek Government has also called on AI to join the fight against the sector, using the technology to power a real-time digital surveillance system which can cross-check user data, platform activity and financial flows, with cooperation from the Bank of Greece, as well as DNS filtering mechanisms to block access to unlicensed gambling platforms.