Slovenia has improved its measures for tackling terrorist financing, concludes Council of Europe’s anti-money laundering body MONEYVAL in a follow-up report released today. The report found Slovenia to have improved its compliance with the Financial Action Task Force (FATF) Recommendation 5 (terrorist financing offence).
As a result of legislative amendments to the terrorist financing offence, the country has been re-rated on this recommendation from “partially compliant” to “largely compliant”.
Overall, Slovenia has made progress in addressing the technical compliance shortcomings identified in its 2017 Mutual Evaluation Report. Out of the 40 Recommendations, Slovenia currently has:
• 11 Recommendations rated “compliant” and
• 29 Recommendations rated “largely compliant”
As a result of its compliance level with the FATF recommendations, Slovenia is no longer required to report under MONEYVAL’s 5th round of evaluations. Furthermore, the application of Step 1 of MONEYVAL’s Compliance Enhancing Procedures has been terminated.
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The Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is a monitoring body of the Council of Europe entrusted with the task of assessing compliance with the principal international standards to counter money laundering, the financing of terrorism and the financing of proliferation of weapons of mass destruction, as well as the effectiveness of their implementation. MONEYVAL evaluates 33 states and territories and makes recommendations to national authorities in respect of necessary improvements to their anti-money laundering and counter terrorist financing systems and to counter proliferation financing.
