Financial Crime World

Slovenia Cracks Down on Money Laundering and Terrorist Financing

Combating Illicit Activities through International Cooperation

Ljubljana, Slovenia - The Office for Money Laundering Prevention of the Republic of Slovenia is taking a proactive approach to combating money laundering and terrorist financing by exchanging data with foreign authorities and serving on international committees to detect and prevent these illegal activities.

Bilateral Agreements and International Organizations

  • The office has signed bilateral memoranda of understanding with 50 countries, including the United States, European Union member states, and other major financial centers, to facilitate the exchange of information on suspicious transactions and individuals.
  • Slovenia is a founding member of the Egmont Group, an international organization that brings together Financial Intelligence Units (FIUs) from around the world to share intelligence and best practices in preventing money laundering and terrorist financing.
  • The country’s FIU has access to the Egmont Secure Web computer network, which allows for secure data exchange with other member countries.

Evaluation and Compliance

  • Slovenia participates in the evaluation process conducted by MONEYVAL, a Council of Europe body that assesses its member states’ compliance with anti-money laundering and counter-terrorism financing standards.
  • The country was evaluated for the fifth time in 2016, and the report on its performance was adopted at the 53rd plenary session of MONEYVAL in May 2017.

National Risk Assessment and Legislation

  • Slovenia’s national risk assessment for money laundering and terrorist financing is also in line with international standards.
  • Pursuant to the first recommendation of the Financial Action Task Force (FATF), countries must implement a national risk assessment, define areas of increased risk, and demand that financial and non-financial institutions identify and assess risk.
  • The country’s Prevention of Money Laundering and Terrorist Financing Act (APMLTF-2) sets out the obligations of obliged persons, such as banks and other financial institutions, to detect and prevent money laundering and terrorist financing.

Successes and Recognition

  • The office’s efforts have contributed to a significant reduction in money laundering and terrorist financing activities in Slovenia, according to the latest reports from MONEYVAL and other international organizations.
  • The country’s commitment to combating these illegal activities has also earned it recognition as a leader in the region in this field.