Should Greece default, “it would probably be one of the most anticipated of unanticipated events in modern history,” Stovall points out. Greece represents less than 2% of the European Union’s GDP, and by itself, a default or exit won’t upend the EU,” argues Stovall. Obviously, the great uncertainty is what happens next to the other peripheral countries with oppressive debt obligations.
Today, many countries in southern Europe have booming shadow economies with Greece especially notable, though the scale of underground activity can only be measured indirectly. According to a new study published by the Institute for Applied Economic Research at the University of Tübingen in Germany (IAW), the Greek shadow economy is estimated to average 21.5 percent of GDP. Its fellow southern European states of Italy and Spain also have shadow economies of 19.8 and 17.2 percent of GDP respectively. In the United States, accepting cash without a declaration doesn’t seem to be quite as common. IAW’s study places U.S. shadow economic activity at 5.4 percent of the country’s GDP.
This situation is aggravated by the proliferation of new websites targeting the Greek audience, many of which operate under the .gr domain and advertise in Greek. Launched in September 2022, Torzon Market operates on the Tor network and features over 11,600 illegal products, including drugs and hacking tools. It enhances buyer transparency by importing vendor feedback with PGP proof.
- Its fellow southern European states of Italy and Spain also have shadow economies of 19.8 and 17.2 percent of GDP respectively.
- A state’s legal action and structures put in place to respond to organized crime.
- It allows vendors to sell without registration, which provides an added layer of anonymity, making it one of the more flexible and user-friendly markets on the dark web.
- “Starting 14 October 2024, we will send notices to relevant authorities regarding illegal content identified through our investigations,” the letter reveals.
- These groups engage in every criminal market and are involved in terrorist groups; they have also infiltrated the Greek banking system.
Furthermore, the ongoing conflict between Türkiye and Greece has created internal fears of the possibility of Türkiye’s economic crisis being exported to the Aegean. In that case, organized crime groups could take advantage of the situation to carry out activities such as concealing and transporting potential terrorists into Europe. Greece is primarily a transit country for the cocaine trade, with Latin American criminal groups using it as a gateway to enter European markets.
- Loose criminal networks are prevalent in Greece, with hundreds of known domestic crime bosses operating in the country.
- So get rid of your worries about Greece and Europe and concentrate on the opportunities that abound in the U.S. stock market.
- Today, many countries in southern Europe have booming shadow economies with Greece especially notable, though the scale of underground activity can only be measured indirectly.
- And in technology, the top picks are led by Facebook (FB), Google (GOOG), Hewlett-Packard (HPQ), Twitter (TWTR), and Yahoo (YHOO).
- Patterns recommended to avoid include hiring hitmen like Dread Pirate Roberts, and sharing handles for software questions on sites like Stack Exchange.
Frequently Asked Questions (FAQs) About Dark Web Marketplaces
Silk Road, AlphaBay, WallStreet and Monopoly Market are all familiar names in the digital graveyard of the dark web. Before these dark web marketplaces were shut down, they sold a range of illegal products, from drugs to firearms. Greek citizens can file digital complaints for a variety of offences related to cybercrime, including illegal access to a computer, trafficking of audio-visual works via the internet and financial cybercrime involving digital currency.
In this post, we’ll walk you through the top 10 dark web marketplaces that you need to watch for potential threats to your organization. Archetyp’s takedown might make headlines, but it won’t stop the trade of illicit drugs on the dark web. It should force us to think about where harm is really happening online and whether current strategies are looking in the wrong direction. In some cases, established sellers on closed-down markets are welcomed onto new markets as digital “refugees” and have joining fees waived.
The cannabis trade hotspots in Greece are Thesprotia and Ioannina, which border Albania. Illicit trade in excise goods is also a significant problem linked to tax evasion, corruption and fraud. The illicit tobacco market is one of the most significant issues, with billions of contraband cigarettes sold annually. Greece is also a source country for parallel trade in pharmaceuticals, and the number of reported cases of medicines illegally imported from Greece, repackaged and sold to other EU countries has increased.
Market Operations
The shutdown of Archetyp, a major dark web drug market, demonstrates that law enforcement takedowns have only short-term effects, as such markets quickly re-emerge and adapt. Persistent trade and resilient user communities limit the long-term impact of these interventions. Focusing solely on dark web markets may overlook broader digital harms occurring on mainstream platforms. Archetyp launched in May 2020 and quickly grew to become one of the most popular dark web markets with an estimated total transaction volume of €250 million (A$446 million). It had more than 600,000 users worldwide and 17,000 listings consisting mainly of illicit drugs including MDMA, cocaine and methamphetamine.
Greek law enforcement agencies cooperate with their counterparts in other countries to investigate and seize assets related to organized crime. Greece is also committed to promoting stability and security as a NATO ally and enhancing Europe’s resilience in the face of security threats from malign actors. In terms of national policies and laws, Greece’s legal framework covers all criminal markets, including economic crimes, which have become a concern for the public. However, the impact of these measures has yet to be assessed and some deficiencies persist. Although the local market for arms trafficking is relatively insignificant, there are hundreds of thousands of easily-accessible illicit arms in Greece, mostly stolen from Albanian military caches. The country primarily serves as a destination and transit point, with the main source countries in the Balkans.
Dutch Regulator Fines Influencers Over Illegal Gambling
No, black market websites operate illegally and pose high risks of scams, fraud, and law enforcement action. WeTheNorth is a Canadian market established in 2021 that also serves international users. It offers counterfeit documents, financial fraud tools, hacking and malware services.
H Of 8 Countries In Southern Europe-1
Bohemia entered the dark web scene in May 2021, quickly rising due to its modern interface and strict rules that reduce the likelihood of scams. Mega Market, established in 2016, experienced a surge in popularity following the takedown of the Hydra market. It contains 43% pure cocoa and it considered really healthy, it is rich in antioxidants and contains fewer calories than milk chocolate. In Greece it is called “Ygeias” which means of health After all everyone knows about the beneficial properties of dark chocolate. While these publicized take-downs feel effective, evidence has shown such interventions only have short-term impacts and the dark web ecosystem will quickly adapt. Investors have been aware of a possible exit by Greece from the European Union for months.
A Not-so-polite History Of Stolen Treasures
The number of migrants arriving in the country by land or sea doubled in 2022, compared to the previous year. Greece is primarily a transit country for smuggled individuals, with the most commonly used route beginning in Türkiye and traveling through Greece to Italy. NGOs have also reportedly been implicated in aiding human smuggling networks. Currently, smugglers are using new and dangerous sea routes to avoid heavily-controlled Greek waters, resulting in multiple boat capsizings and numerous deaths. To support its claims, the HGA stresses the importance of revamping and improving the existing legal framework governing gambling.
Economic And Financial Environment
The durability of these markets tells us that if policing responses keep following the same playbook, they will keep getting the same results. And by focusing so heavily on these hidden platforms, authorities are neglecting the growing digital harms in the spaces we all use. Even on home soil Pop Market has Delivery Hero-owned efood to contend with (and Delivery Hero is now an investor in Berlin-based dark store operator Gorillas). Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.
Greece’s shadow economy and perceived level of corruption create an attractive environment for criminal groups involved in the illegal market for non-renewables, such as illicit fuel and gold extraction. Several cases involving illegal gold trading networks and robberies have been reported, where gold and silver were smuggled abroad to Türkiye and Germany. The current economic hardship and the energy market situation may increase the value generated by these phenomena, although their significance will probably remain local. Classic darknet markets sell diverse illegal goods; data stores focus on leaked or stolen data like credentials, databases, and ID records. In addition to these tools, the market offers access to compromised accounts, VPN services, and digital identities, making it a hub for individuals involved in illegal activities like hacking, identity theft, and other forms of cybercrime.
The Rise Of The Dark Store: Fulfilling On-demand Online Orders
The other emerging issue is that current policing efforts treat dark web markets as the core threat, which might miss the wider landscape of digital harms. Illicit drug sales, for example, are promoted on social media, where platform features such as recommendation systems are affording new means of illicit drug supply. “The fact that online grocery penetration is only 2% presents a massive opportunity for us,” adds founder and CEO Takis Malavetas. “If you look at Greece holistically, the delivery market is much more mature compared to many other countries in Europe.
D Of 44 Countries In Europe-2
As of 2020, nearly 57% of the dark web was estimated to contain illegal content, including violence and extremist platforms. 2easy has quickly gained traction as a go-to platform for hackers looking to buy and sell databases containing breached credentials, Social Security numbers, financial records, and login details for online banking and e-commerce platforms. The marketplace requires merchants to pay fees to sell their products, helping ensure a certain level of quality control. This ability of dark web communities to thrive in disruptions reflects how dark web market users have become experts at adapting to risks, managing disruptions and rebuilding quickly. “If the Drachma-drama triggers a market decline in excess of 10%, not seen since October 11, 2011, it may be a blessing in disguise,” says Stovall. “As history has shown, prior market shocks have usually proven to be better opportunities to buy than bail, primarily because the events did not dramatically alter the course of global economic events,” argues the S&P Capital IQ chief equity strategist.
