Slovenia Boosts Anti-Money Laundering Efforts, Says MONEYVAL Report

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A recent report by the Council of Europe’s anti-money laundering body, MONEYVAL, has praised Slovenia for improving its measures to combat money laundering and terrorist financing. Despite some minor deficiencies remaining, the country has made significant progress in strengthening its customs authorities’ powers and enhancing regulations for virtual asset services providers.

Improvements in Anti-Money Laundering Measures

• Slovenia has brought its definition of virtual services providers in line with international standards.
• Customs authorities have been granted the power to request information from carriers of cash crossing borders between Slovenia and other EU member states.
• The country has empowered customs authorities to request further information in cases where false custom declarations or disclosures are detected.

Compliance with International Standards

The report highlights that Slovenia has achieved full compliance with 11 out of the 40 Financial Action Task Force (FATF) recommendations. However, minor deficiencies remain in implementing 28 other recommendations, while one recommendation is still partially compliant.

Next Steps

Slovenia remains under MONEYVAL’s enhanced follow-up procedure and will be required to report back to the organization by December 2023.

About MONEYVAL

MONEYVAL is a monitoring body that evaluates compliance with international standards on anti-money laundering and counter-terrorism financing among its 33 member states. The organization makes recommendations to national authorities for improving their anti-money laundering systems.

Full Report Available

The full report can be accessed on MONEYVAL’s website, along with more information on the country’s progress.