Slovenia Cracks Down on Money Laundering and Terrorist Financing
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The Office for Money Laundering Prevention (OMLP) in Slovenia has been actively working to prevent money laundering and terrorist financing, collaborating with foreign authorities and participating in international efforts to combat these financial crimes.
Implementing Anti-Money Laundering Measures
As a member of the Council of Europe’s MONEYVAL committee, OMLP is responsible for implementing anti-money laundering measures and preventing the financing of terrorism. The office also serves on committees of international bodies such as the European Union and the Council of Europe, and participates in the evaluation of Slovenia by MONEYVAL and the drafting of action plans.
International Cooperation
OMLP exchanges data with foreign authorities and participates in international efforts to combat money laundering and terrorist financing. The office is a founding member of the Egmont Group, an international organization that brings together financial intelligence units (FIUs) to prevent money laundering and terrorist financing.
- OMLP exchanges data with similar bodies through the Egmont Secure Web network and FIU.net computer network.
- The office has signed bilateral memorandums of understanding on data exchange with 50 offices from around the world, including the United States, European Union member states, and countries such as Australia, Canada, and China.
National Risk Assessment
OMLP conducts a national risk assessment for money laundering and terrorist financing, which involves identifying areas of increased risk and verifying whether Slovenia’s system for preventing these crimes takes sufficient account of that risk. The national risk assessment must be updated at least every four years.
Obliged Persons’ Responsibilities
Obliged persons, including financial institutions and non-financial businesses, are required to implement measures to detect and prevent money laundering and terrorist financing. These measures include:
- Assessing the risk of money laundering and terrorist financing
- Establishing policies and procedures for managing that risk
- Reporting suspicious transactions to OMLP
Commitment to Combating Money Laundering and Terrorist Financing
By working closely with international partners and implementing effective anti-money laundering measures, Slovenia is committed to preventing money laundering and terrorist financing and protecting its financial system from these serious crimes.