On 10 June, MONEYVAL published a fourth follow-up report on Slovenia following its 2017 mutual evaluation report.  It says that Slovenia has moderately improved its measures to combat money laundering and terrorist financing, demonstrating some progress in the level of compliance with the FATF standards.  There has been an upgrade of Slovenia from “partially compliant” to “largely compliant” in the area related to assessment of money laundering and terrorist financing risks. However, there are still significant legislative deficiencies as regards the criminalisation of terrorism financing.  In the light of the new report, MONEYVAL has decided to apply its Compliance Enhancing Procedures (CEP), and the first step would be to inviting the Secretary General of the Council of Europe to send a letter to the country’s authorities requesting the necessary corrective measures to be taken.  Slovenia will also remain in enhanced follow-up and will continue to report back to MONEYVAL on progress to strengthen its implementation of AML/CFT measures. Slovenia is expected to report back in 1 year’s time.



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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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