Chrysanthou Mylona 1-3030, Panaghides Building, Episkopi, Cyprus, 350
Room 2a 14/f Chun Wo Commercial Centre, 23–29 Wing Wo Street, Central, Hong Kong
Fraud recovery in Greece operates through three parallel channels: criminal proceedings initiated through the Ελληνική Αστυνομία (Hellenic Police) and the Εισαγγελέας (Public Prosecutor), civil litigation before Greek civil and commercial courts, and regulatory complaints to the relevant supervisory authority. The HCMC supervises investment firms, CASPs under MiCA, and forex platforms. The Bank of Greece supervises credit and financial institutions. The Cyber Crime Division of the Hellenic Police handles cyber-enabled fraud with dedicated online complaint services available through gov.gr – including specific services for financial crimes, computer fraud, and financial cybercrimes involving digital currencies. Recovery outcomes depend on the fraud type, the speed of criminal complaint filing, the identifiability and asset position of the fraudster, and whether institutional liability claims are available against regulated entities. All formal proceedings are conducted in Greek.
The Επιτροπή Κεφαλαιαγοράς (HCMC / Hellenic Capital Market Commission) supervises investment firms, the capital market, collective investments, and other non-banking financial services in Greece. The HCMC confirms in its annual reporting that it handles complaints against supervised companies as a dedicated consumer and supervisory function.
Where an investment firm, fund, intermediary, or unlicensed entity offered investment products or services in violation of Greek capital markets law, complaints are filed with the HCMC. For criminal fraud – misappropriation of invested funds, false representations about returns, Ponzi structures, or fabricated investment products – a criminal complaint is filed with the Hellenic Police through the official gov.gr service for financial crimes. The Public Prosecutor handles criminal prosecution. Civil proceedings for damages, restitution, and interim measures are brought before the competent civil court.
The HCMC is the competent authority for MiCA implementation and CASP authorisation in Greece. The HCMC officially accepts applications for authorisation of Crypto-Asset Service Providers under MiCA, as confirmed by the HCMC decision of 30.07.2025 and its official MiCA/CASP materials.
Where a crypto operator claims CASP authorisation in Greece or uses false licensing claims to attract investors, complaints are filed with the HCMC. For crypto scams, fake exchanges, wallet theft, blocked withdrawals, or crypto-related cyber fraud, criminal complaints are filed with the Hellenic Police through the Cyber Crime Division – gov.gr provides a dedicated service for filing complaints on financial cybercrimes involving electronic and digital currencies. The Public Prosecutor handles criminal prosecution.
The HCMC exercises supervisory authority over forex, CFD, and investment service providers in Greece as part of its capital markets and investment services supervision. Official HCMC materials reference both domestic and foreign firms offering investment services in Greece.
Where a forex or CFD provider claims a Greek licence, offers investment services, or operates without authorisation, complaints are filed with the HCMC. For fraud involving manipulated platforms, boiler room operations, blocked withdrawals, or fake account managers, criminal complaints are filed with the Hellenic Police through the official gov.gr services for financial crimes and cybercrime complaints. The Public Prosecutor handles criminal prosecution.
Greece does not have a dedicated financial regulator for the real estate sector. Real estate agent registration is administered through the Chamber Registry Department and the Register of Real Estate Agents, with entry into the General Commercial Registry (GEMI). The institutional body for this procedure is the Ministry of Development, as confirmed by the official Greek services registry.
For verification of whether an agent is registered as a Real Estate Agent, the Registry Department, Register of Real Estate Agents, and GEMI registration path are consulted. Where the dispute involves trader conduct, misleading practices, or violation of consumer interests, complaints are filed through the consumer complaint channels of the General Secretariat of Trade and Consumer Protection under the Ministry of Development, available as a service on gov.gr. The Συνήγορος του Καταναλωτή (Consumer Ombudsman) provides out-of-court resolution for consumer complaints against companies harming financial interests. For verification of property rights and title, the Ελληνικό Κτηματολόγιο (Hellenic Cadastre) provides cadastral and land record data.
Where fraud involves fake listings, deposit fraud, forged documents, rental scams, or double sales, criminal complaints are filed with the Hellenic Police, with cyber-enabled rental fraud reported through the cybercrime complaint services. Civil proceedings for recovery of deposits, nullity, title disputes, and damages are brought before the competent civil court.
Where an international transaction with a Greek company results in fraud – non-delivery, document fraud, payment diversion, or a fictitious supplier – criminal complaints are filed with the Hellenic Police through the official gov.gr services for financial crimes and cybercrime. The Public Prosecutor handles prosecution.
Civil proceedings for contractual recovery, damages, and injunctions are brought before the competent civil court. Where the counterparty belongs to the HCMC, Bank of Greece, or Ministry of Development consumer-regulated perimeter, the relevant authority is notified in parallel.
Where a company in which funds were invested enters insolvency and there are indicators of fraudulent bankruptcy – concealment of assets, sham insolvency, accounting fraud, or asset stripping – insolvency proceedings, creditor recovery, and judicial measures are administered by the competent civil or commercial court.
Criminal complaints for fraudulent bankruptcy, concealment of assets, and accounting fraud are filed with the Hellenic Police through the official gov.gr police and cybercrime services and referred to the Public Prosecutor.
Where a buyer made prepayment and received no goods or services – and the supplier acted with deception from the outset – criminal complaints are filed with the Hellenic Police and referred to the Public Prosecutor. Civil proceedings for recovery of the prepayment and damages are brought before the competent civil court.
Where the dispute is consumer-related, complaints are filed through the General Secretariat of Trade and Consumer Protection under the Ministry of Development via gov.gr. The Consumer Ombudsman provides out-of-court resolution for complaints against companies harming consumer financial interests.
Phishing, computer fraud, credential theft, and social engineering attacks are reported to the Cyber Crime Division of the Hellenic Police – the primary official authority for cyber-enabled fraud in Greece. Gov.gr provides a dedicated service for filing complaints in case of computer fraud, with additional online services for other cybercrimes. The Cyber Crime Division is reachable at ccu@cybercrimeunit.gov.gr, call center 11188, and duty officer +30 2106459569.
Where phishing resulted in compromised banking credentials or payment data, the servicing bank, payment service provider, or card issuer must be contacted immediately. For supervised banks, the complaint route through the Bank of Greece is available after initial contact with the bank itself. The Public Prosecutor handles criminal prosecution.
Where a company in which funds were invested engaged in fraudulent financial reporting – false accounts, concealment of income, deception of investors, or criminal accounting fraud – criminal complaints are filed with the Hellenic Police and referred to the Public Prosecutor as the primary authority for prosecution.
If the company is within the HCMC’s supervised capital market perimeter, the HCMC is notified in parallel – the HCMC directly supervises investment firms and other capital market participants. Civil proceedings for investor damages are brought before the competent civil court.
Romance scams and social media fraud – including impersonation, fabricated identities, emotional manipulation for financial extraction, and online extortion – are reported to the Cyber Crime Division of the Hellenic Police as the primary official route for cyber-enabled fraud and internet-based scams. Online complaints to the Cyber Crime Division are available through gov.gr. Formal criminal complaints are filed with the Hellenic Police. The Public Prosecutor handles prosecution.
Where funds were transferred through Greek bank accounts, the servicing bank should be contacted immediately to flag the receiving accounts and initiate internal fraud procedures.
The Τράπεζα της Ελλάδος (Bank of Greece) supervises credit and financial institutions in Greece and officially accepts complaints regarding the institutions it supervises through its website. The Bank of Greece complaint route supplements, but does not replace, the initial complaint to the bank itself.
The first step in any banking or card fraud matter is immediate notification to the servicing bank, card issuer, or payment service provider to block compromised accounts, initiate transaction recall, and file an internal fraud report. Where the institution fails to resolve the complaint adequately, the matter is escalated to the Bank of Greece for supervised credit and financial institutions. Criminal complaints for card fraud, phishing-linked bank theft, account takeover, or computer fraud are filed with the Hellenic Police through the Cyber Crime Division – gov.gr provides a dedicated official service for computer fraud complaints. The Public Prosecutor handles prosecution.
Report the fraud to the Ελληνική Αστυνομία (Hellenic Police) immediately. For financial crimes, gov.gr provides an official service for filing complaints on financial crimes. For cyber-enabled fraud including crypto fraud, phishing, and computer fraud, report to the Cyber Crime Division through gov.gr online services, at ccu@cybercrimeunit.gov.gr, call center 11188, or duty officer +30 2106459569. Provide all available evidence: contracts, payment records, communications, transaction references, and identity information for the counterparty.
If the fraud involves an investment firm, CASP, or forex platform, file a complaint with the HCMC. If it involves a bank or credit institution, notify the Bank of Greece. For consumer matters, file through the General Secretariat of Trade and Consumer Protection via gov.gr or contact the Consumer Ombudsman. Regulatory notification creates an enforcement record and may trigger supervisory investigation.
Contact your bank or payment provider immediately to restrict compromised accounts and initiate recall or chargeback procedures for fraudulent transactions. The servicing bank is the first point of contact for unauthorised or incorrect payments, with the Bank of Greece complaint route available for escalation.
Check the counterparty’s registration and status through GEMI (General Commercial Registry). For real estate matters, verify property rights, title, and encumbrances through the Hellenic Cadastre. For real estate agents, verify registration through the Register of Real Estate Agents and GEMI path. Insolvency or dissolution entries inform the enforcement strategy.
Save all communications, contracts, invoices, payment confirmations, website screenshots, email headers, and transaction records without alteration. Digital evidence is critical for both criminal investigation and civil proceedings and may become inaccessible if platforms delete accounts or the counterparty destroys records. Evidence preservation should begin immediately upon discovery of the fraud.
Criminal complaints filed with the Hellenic Police and prosecuted by the Public Prosecutor initiate formal investigation under Greek criminal law. The Cyber Crime Division handles cyber-enabled fraud with dedicated online complaint services through gov.gr. Relevant offences include fraud, computer fraud, document fraud, identity fraud, money laundering, and fraudulent bankruptcy. Criminal proceedings provide access to investigative tools unavailable in civil litigation – bank record production orders, platform identity disclosure, telecommunications data, and international judicial cooperation through mutual legal assistance treaties and EU instruments.
Civil proceedings before Greek civil and commercial courts are available for contractual claims, damages, restitution, unjust enrichment, and rescission of fraudulent transactions. Asset attachment and preservation orders can be obtained to prevent dissipation of assets during proceedings. Civil litigation targets the fraudster and, where applicable, institutions that failed to prevent the fraud – including claims against banks and financial institutions for breach of their obligations.
The Συνήγορος του Καταναλωτή (Consumer Ombudsman) provides out-of-court resolution for consumer complaints against companies harming financial interests. This mechanism can be used before or alongside court proceedings for qualifying consumer disputes.
Complaints to the HCMC or Bank of Greece create enforcement records that contribute to supervisory action against the entity. Regulatory proceedings can result in licence suspension or revocation, fines, public warnings, and mandatory corrective measures. Regulatory findings may support civil claims by establishing that the entity breached its supervisory obligations under Greek financial law.
Criminal complaints filed within hours of discovery give investigators the best chance of tracing funds before they are moved or layered through intermediary accounts. Bank recall mechanisms are most effective when initiated on the same day as the fraudulent transaction. Regulatory notifications filed promptly create contemporaneous records that strengthen both criminal and civil proceedings.
Named counterparties with identifiable assets in Greece – bank accounts, real property, registered companies, vehicles – are the most viable targets for civil recovery and enforcement. Where the fraudster operated anonymously or through shell structures, criminal investigation through the Hellenic Police, Cyber Crime Division, and Public Prosecutor is the primary identification tool through bank records, platform data, and telecommunications records.
Where a regulated institution – bank, credit institution, investment firm, forex platform, or CASP supervised by the HCMC or Bank of Greece – failed to comply with its supervisory obligations, institutional liability claims provide an alternative recovery path against a solvent, regulated defendant. These claims do not depend on the fraudster’s identifiability or asset position and are particularly relevant where the fraudster has absconded or dissipated assets.
Contracts, payment records, communications, transaction references, and digital forensic evidence form the foundation for both criminal prosecution and civil recovery. Incomplete evidence – missing transaction references, deleted communications, unrecorded oral agreements – weakens both the criminal case and the civil enforcement position. Immediate, comprehensive evidence preservation at the point of discovery is the single most important step a victim can take to support recovery.
Fraud recovery in Greece operates through criminal proceedings, civil litigation, out-of-court resolution, and regulatory complaints – each channel serving a distinct function in identifying the fraudster, preserving assets, and achieving financial recovery. The HCMC supervises investment firms, CASPs under MiCA, and forex platforms. The Bank of Greece supervises credit and financial institutions. The Cyber Crime Division of the Hellenic Police handles cyber-enabled fraud with dedicated online complaint services through gov.gr, including specific services for financial crimes and cybercrimes involving digital currencies.
Speed of reporting determines outcomes across all channels. Criminal complaints filed immediately preserve the investigative window for fund tracing and asset identification. Bank recall and chargeback mechanisms lose effectiveness with each day of delay. Evidence preserved at the point of discovery – contracts, communications, transaction records, digital forensic data – forms the foundation for every recovery action. All formal proceedings are conducted in Greek, making early engagement of local counsel essential for international clients.
If you suffered financial losses through fraud involving Greek companies, institutions, or counterparties, contact Veritas Advisory Group to have your legal position assessed.
Veritas Advisory Group provides professional legal and advisory services to victims of investment and trade fraud in Europe. This article is for informational purposes only and does not constitute legal advice.
