Financial Crime World

Slovenia Makes Strides in Fighting Financial Crimes: MONEYVAL Report Highlights Progress on AML/CFT Regulations

The European monitoring body MONEYVAL (The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism) has commended Slovenia for enhancing its anti-money laundering and terrorist financing (AML/CFT) regulations, particularly in the oversight of financial institutions. In a recent report, MONEYVAL noted Slovenia’s efforts have led to an improved status – moving from “Partially Compliant” to “Largely Compliant” on Recommendation 26.

Slovenia’s Progress on AML/CFT Regulations

Since the end of last year, Slovenian authorities have taken several measures to prevent individuals with criminal connections from owning or controlling significant stake in banks and insurance companies. Additionally, Slovenia has instituted risk evaluation procedures for exchange offices and non-banking lenders and improved institution-specific risk profile assessments.

According to MONEYVAL’s assessment, Slovenia has made considerable progress in addressing most of the technical compliance deficiencies identified in the 2020 Mutual Evaluation Report. Slovenia’s achievements:

  • 5 Recommendations rated Compliant
  • 23 Recommendations rated Largely Compliant
  • 12 Recommendations rated Partially Compliant

Slovenian authorities are expected to update MONEYVAL on further efforts to strengthen their AML/CFT system by December 2024.

About MONEYVAL

MONEYVAL is a Council of Europe monitoring body dedicated to assessing the level of adherence to key international standards in countering money laundering, financing terrorism, and proliferation of weapons of mass destruction. MONEYVAL evaluates the anti-money laundering and counter-terrorist financing systems of 33 states and territories, offering suggestions for improvements.

Press Contact:

  • Jaime Rodriguez, Spokesperson/Media officer
  • +33 3 90 21 47 04
  • Council of Europe, Media Assistance Unit
  • Tel. +33 (0)3 88 41 25 60
  • www.coe.int
  • [email protected]

Issued on: March 13, 2024, at 08:49:00 CET

References

MONEYVAL, “Mutual Evaluation Report - Slovenia,” accessed March 13, 2024, https://www.moneyval.org/Council/MonevalDocs/2020/MONEYVAL_Slovenia_MER_2020.pdf.