Slovenia Makes Significant Progress in Combating Terrorist Financing, Says MONEYVAL Report

Improved Compliance with FATF Recommendation 5

Slovenia has made significant improvements in its measures to tackle terrorist financing, according to a follow-up report released by the Council of Europe’s anti-money laundering body MONEYVAL. The country has improved its compliance with the Financial Action Task Force (FATF) Recommendation 5 on terrorist financing offence, moving from “partially compliant” to “largely compliant”.

Legislative Amendments Contribute to Improvement

Slovenia’s legislative amendments aimed at strengthening its laws and regulations against terrorist financing have contributed to this improvement. The report highlights that Slovenia has made progress in addressing technical compliance shortcomings identified in its 2017 Mutual Evaluation Report.

FATF Recommendations Rating

Slovenia now rates highly on the FATF recommendations, with:

• 11 out of 40 being rated “compliant”
• 29 being rated “largely compliant”

As a result, Slovenia is no longer required to report under MONEYVAL’s 5th round of evaluations. Additionally, the application of Step 1 of MONEYVAL’s Compliance Enhancing Procedures has been terminated.

About MONEYVAL

The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) monitors compliance with international standards to counter money laundering, terrorist financing, and proliferation of weapons of mass destruction. The body evaluates 33 states and territories, making recommendations to national authorities on necessary improvements to their anti-money laundering and counter-terrorist financing systems.

Access the Report

The full report is available at [insert link].