Legal & Regulatory Framework

The management of loan and credit claims, i.e. a debt owed by a natural person or a company against a loan or credit received from a bank or other financial institution in Greece, is governed by a strict regulatory framework, which the Greek State has established with specific legislation, and is supervised by the Bank of Greece with acts and decisions which include the Code of Conduct under Law 4224/2013.

More specifically:

1. We implement policies and procedures to prevent using the financial system for money laundering and terrorist financing.

   
   
   • Law 4557/2018 on “preventing and suppressing money laundering and terrorist financing (transposition of Directive (EU) 2015/849) and other provisions”, as applicable from time to time.
   • Decision No 281/17.03.2009 of the Banking and Credit Committee on “prevention of the use of credit institutions and financial institutions supervised by the Bank of Greece for money laundering and terrorist financing”, as applicable from time to time.
   • Ministerial Decision No 9747/07.04.2021 on the electronic processing of due diligence measures through the “eGov-KYC” application (whose internal integration is being reviewed).
     
     
2. We apply policies and procedures to protect consumers by the applicable legal framework.
    
   
   • • Law 2251/1994 on “Consumer Protection”, as applicable occasionally.
     • Law 3758/2009 on “Debtor notification companies for overdue claims and other provisions”, as applicable occasionally.
     • BoG Governor’s Act No 501/2002 “Notification of persons trading with credit institutions on the conditions governing their transactions”
     • Executive Committee Act No 157/02.04.2019 “Adoption of the guidelines of the Mixed Committee of the European Supervisory Authorities regarding the handling of complaints submitted by traders to supervised institutions.”
       
       
3. We gradually incorporate and implement sustainable development and Environmental, Social, and Governance (ESG) policies and procedures, following the developments of the relevant legal framework at the European level.
   
   

4. We apply the laws and regulations to effectively address cases of conflict of interest by the provisions of the Greek legislation and the BoG Governor’s Acts issued from time to time.

5. We apply anti-corruption and anti-bribery policies and procedures, following the provisions of the national legal and regulatory framework.
   
   
6. We implement all appropriate information and communications technology (ICT) measures deriving from EU rules and national legislation on communications, network and cybersecurity (NIS2) to keep pace with the increased use of technology and digitisation, ensuring the required resilience and cybersecurity.
   
   
7. We apply laws and regulations on the protection of personal data.
   Quant is committed to the protection of your personal data by incorporating in its operations Regulation (EU) 2016/679 (General Data Protection Regulation), Law 4624/2019 and the other provisions of the relevant current Greek and EU legislation on the protection of personal data, taking all the necessary organisational and technical measures for their safeguarding.
   
   

Personal Data

Quant can verify the accuracy and completeness of the financial data and supporting documents submitted by borrowers and seek additional data on their property and financial standing from relevant records, including the records of TIRESIAS S.A. (www.tiresias.gr, tel. +30 210 367 6700), in compliance with the provisions of the current legislation on personal data protection.