By Law 4557/2018, which repeals Law 3691/2008, the Authority for Combating Money Laundering and Terrorist Financing and the Control of Asset Declarations is renamed the Authority for Combating Money Laundering. The Authority serves as the national unit for combating money laundering, terrorist financing, financing the proliferation of weapons of mass destruction, and controlling asset declarations, contributing to the security and stability of fiscal and economic policy. The purpose of the Authority, according to Law 4557/2018, is to take and implement necessary measures to prevent, detect, and combat money laundering and terrorist financing, identify persons related to terrorism, and impose financial sanctions against them and against persons designated by United Nations Security Council Resolutions and its instruments or by European Union Decisions and Regulations. It also includes the control of asset declarations of the individuals mentioned in subparagraph aa of paragraph 1 of article 3 of Law 3213/2003 (A’ 309). By presidential decree issued upon the proposal of the Minister of Finance, following the recommendation of the President and the members of the Authority, specific issues concerning the functioning of the Authority and its Units are regulated. The Authority consists of three (3) separate Units as follows:

A Unit of Financial Intelligence Investigation, which is composed of the President and eleven (11) members of the Authority. B Unit of Financial Sanctions, which is composed of the President and two (2) members of the Authority. C Unit of Asset Declarations Control, which is composed of the President and four (4) members of the Authority.

The President is appointed as a senior Prosecutorial Official, either active or honorary (Deputy Prosecutor of the Supreme Court). The active senior prosecutorial official is selected along with their deputy by decision of the Supreme Judicial Council, following a related question from the Minister of Justice, and is appointed by joint decision of the Ministers of Finance and Justice. The honorary senior prosecutorial official is selected along with their deputy by joint decision of the Ministers of Finance and Justice following a proposal from the latter and the opinion of the Permanent Committee on Institutions and Transparency of Parliament.