SLOVAKIA REMAINS IN ENHANCED FOLLOW-UP FOR FINANCIAL ACTION TASK FORCE (FATF)

Progress Made, but Remaining Challenges Persist

The Financial Action Task Force (FATF) has recently announced that Slovakia has made some progress in addressing its technical compliance deficiencies. However, the country still faces remaining challenges and has been re-rated on five key recommendations.

Re-rating of Recommendations

The evaluation showed that:

• Recommendation 1: Compliant
  • Previously labeled as “largely compliant”, it is now classified as “compliant”.
• Recommendation 15: Partially Compliant
  • Initially considered “largely compliant”, it has been upgraded to “partially compliant”.
• Recommendations 20, 30, and 33: Non-Compliant
  • Previously rated as “partially compliant”, they have been downgraded to “non-compliant”.

Remaining Deficiencies

Despite the progress made, Slovakia is still encouraged to continue addressing its remaining deficiencies. The country will remain in enhanced follow-up and must continue to report back to MONEYVAL on its efforts to strengthen the implementation of anti-money laundering and combating the financing of terrorism (AML/CFT) measures.

Commitment to Improving AML/CFT Framework

Slovakia’s commitment to improving its AML/CFT framework remains crucial. FATF will closely monitor its progress, ensuring that the country continues to make meaningful improvements in addressing its technical compliance deficiencies.