World Economy

Greece Seizes 500,000 Bank A/Cs

Greece Seizes 500,000 Bank A/CsGreece Seizes 500,000 Bank A/Cs

Tax authorities in Greece have seized half a million bank accounts, containing €1.6 billion ($1.8 billion), in the first half of 2016. In the first four months of the year alone, authorities seized 428,465 accounts, and the numbers included in May push that figure well over the half-million mark. This contrasts with last year, where 333,776 accounts were seized all year, CoinTelegraph reported. Seizures of Greek accounts by tax authorities continue to rise by leaps and bounds year after year. In 2014, seizures averaged about 7,000 per month, while in 2016 they currently average over 100,000, more than a tenfold total increase.


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