GREECE Law and Practice Contributed by: Petros Machas, Dimitris Zanganas and Katerina Chrysi, Machas & Partners
The law provides protective measures for such whis - tle-blowers, including confidentiality and, in some cas - es, immunity from prosecution, in order to encourage reporting without fear of retaliation. Safeguards may include the use of pseudonyms in written statements or giving testimony remotely with voice distortion. In addition, the law (Article 263A of the Penal Code) provides for lenient treatment of offenders or accom - plices who assist the authorities by revealing the offence and identifying other participants, including reduced sentences and possible suspension of their execution. Anonymous reports are also possible; however, their credibility is assessed by the competent authorities through investigation and the collection of supporting evidence.
they were interrupted, and any written request by the defendant or invitation by the prosecutor is destroyed and cannot be used against the defendant. Nevertheless, these alternative mechanisms have not been widely applied in practice and are more com - monly used in cases involving narcotics or migrant smuggling. Accordingly, the Greek system combines traditional prosecution with alternative resolution mechanisms, which, however, remain of limited prac - tical relevance in the field of financial crime. 6.2 Sanctions and Sentencing In the Greek legal order, natural persons may be sub - ject, either cumulatively or alternatively, to imprison - ment and monetary penalties. Confiscation has also been expanded as a key measure to deprive offenders of unlawful proceeds. Moreover, in the case of foreign nationals, administrative deportation may be ordered under the applicable immigration framework as a sup - plementary measure. In determining the appropriate sentence, courts apply Article 79 of the Penal Code, taking into account objective and subjective factors such as the dam - age caused, the nature of the offence, the degree of intent or negligence, and the offender’s personality and conduct. Mitigating circumstances under Article 84, including prior lawful conduct, sincere remorse and efforts to remedy the harm, may lead to reduced penalties. As regards legal persons, sanctions remain primarily administrative in nature and consist mainly of mon - etary fines, temporary or permanent suspension or revocation of business activities, publication of the conviction, and temporary or permanent exclusion from public benefits, aid or subsidies, although in certain cases such sanctions may also be imposed by criminal courts. The imposition and assessment of such sanctions depend on factors such as the extent of damage and any recidivism of the legal entity. Under the more recent framework introduced by Article 134 (3) of Law 5090/2024, the determination of sanctions against legal persons requires consideration of all rel - evant circumstances, including in particular the gravity and duration of the offence, the degree of responsibil - ity of the entity, its financial standing, the amount of
6. Resolutions, Sanctions and Remedies
6.1 Prosecution and Resolution Mechanisms In the Greek legal order, financial crime cases are pri - marily resolved through prosecution and the ordinary criminal procedure. However, in recent years, follow - ing the introduction of the new Penal Code in 2019, consensual resolution mechanisms inspired by Anglo- Saxon legal systems have been introduced with the aim of expediting the administration of justice. In par - ticular, criminal conciliation (Articles 301–302 of the Code of Criminal Procedure) allows the defendant, under certain conditions and especially in non-vio - lent financial offences (eg, forgery, embezzlement, tax offences), to reach an agreement with the victim prior to the completion of the investigative stage, leading to a reduced sentence imposed by the court. In parallel, criminal negotiation (Article 303 of the Code of Criminal Procedure) may be initiated upon request of the defendant or at the initiative of the prosecutor at any stage prior to the commencement of the eviden - tiary proceedings before the trial court, in exchange for a confession and a reduced sentence. The rele - vant agreement is drawn up in writing and must be ratified by the court. If no agreement is reached, the criminal proceedings continue from the stage at which
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