Slovenia Country Summary
Sanctions
High Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
Medium Concern
US State ML Assessment
Low Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Slovenia 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 to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Slovenia was undertaken in December 2023. According to that Evaluation, Slovenia was deemed Compliant for 11 and Largely Compliant for 29 of the FATF 40 Recommendations. It remains rated Highly Effective for 0 and Substantially Effective for 1 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.
Sanctions
Slovenia enforces both UN and EU sanctions as part of its domestic law, reflecting its status as an EU member state. The EU sanctions aim to uphold the Common Foreign and Security Policy by promoting democracy, human rights, and international security, targeting specific policies rather than entire countries or populations.
In June 2021, the US expanded its sanctions in the Western Balkans through Executive Order 14033, addressing threats to peace and democratic processes. This order prohibits US persons from engaging with designated parties involved in activities undermining stability in the region, which now includes Albania as part of the Western Balkans.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 60 |
| World Bank: Control of Corruption Percentile Rank | 77 |
Slovenia's legal framework addresses corruption through the Slovenian Criminal Code, which prohibits various forms of economic corruption, including bribery and insider trading. Despite the existence of laws and the establishment of the Commission for the Prevention of Corruption, challenges persist in prosecuting corruption cases due to difficulties in obtaining evidence. Corruption remains a concern, particularly in public procurement, where practices favoring incumbent vendors hinder fair competition, although it has not significantly deterred foreign direct investment.
Economy
Slovenia has a developed, export-oriented economy with a nominal GDP of $73.83 billion and a per capita GDP of $34,839. The country benefits from modern infrastructure, a highly educated workforce, and its strategic location within the EU, which makes it attractive for foreign direct investment. Despite recent economic growth, challenges such as rising inflation and state ownership in various sectors continue to impact its economic landscape.
Slovenia offers a favorable investment climate characterized by modern infrastructure, a skilled workforce, and strategic access to EU and Balkan markets, making it attractive for foreign direct investment (FDI). However, potential investors face challenges such as bureaucratic inefficiencies, high taxes, and a significant state presence in the economy, which can create skepticism towards privatization and foreign investment. Despite these hurdles, FDI in Slovenia reached EUR 20.2 billion in 2022, with key sectors including manufacturing and financial services.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings