FATF status

Slovakia is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Slovakia was undertaken in 2024. According to the follow-up Evaluation, Slovakia was deemed Compliant for 5 and Largely Compliant for 23 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 1 of the Effectiveness & Technical Compliance ratings.

Slovakia is a signatory to various international anti-corruption treaties, yet corruption remains a significant issue for its business environment, with a majority of respondents in a 2017 survey perceiving it as ingrained in the culture. Despite legal frameworks criminalizing bribery and some efforts to enhance transparency, high-level corruption often goes unpunished, and political influence is believed to hinder effective investigations. Recent government initiatives aim to strengthen anti-corruption measures, but challenges persist, particularly in the areas of public procurement and law enforcement.

Slovakia is a small, open, export-oriented economy with a population of 5.4 million, having joined the EU in 2004 and the Eurozone in 2009. The country experienced a GDP growth of 4.3 percent in 2018, driven by export growth and domestic consumption, and boasts the lowest unemployment rate in its history. However, challenges remain, including an inefficient judiciary, low investment in innovation, and high social insurance payments that increase labor costs.

Slovakia presents a favorable investment climate characterized by its EU and Eurozone membership, strategic geographic location, and a positive government stance towards foreign direct investment (FDI). The country offers various investment incentives, particularly in manufacturing and technology sectors, although challenges such as a shortage of skilled labor and perceptions of corruption persist. The automotive industry remains a significant draw for FDI, making Slovakia the largest per capita car producer globally.