Slovenia – Know Your Customer (KYC) Rules

 

 

Slovenia is not a major narcotics producer, but is a transit country for drugs moving via the Balkans to Western Europe. The Government of Slovenia (GOS), aware of Slovenia‘s geographic attractiveness as a potential transit country for drug smugglers, continues to pursue active counter-narcotics policies. Other predicate offenses of concern include business and tax fraud.

KNOW-YOUR-CUSTOMER (KYC) RULES:

 

Enhanced due diligence procedures for PEPs:

 

PEP is an abbreviation for Politically Exposed Person, a term that describes a person who has been entrusted with a prominent public function, or an individual who is closely related to such a person. The terms PEP, Politically Exposed Person and Senior Foreign Political Figure are often used interchangeably

    • Foreign PEP: YES
    • Domestic PEP: YES

Slovenia – KYC covered entities

 

The following is a list of Know Your Customer entities covered by Slovenian Law:

    • Banks
    • Agricultural credit institutions
    • Lawyers
    • Money changers
    • Notaries
    • Gaming centers
    • Securities dealers

Slovenia – Suspicious Transaction Reporting (STR) Requirements:

 

Number of STRs received and time frame: 233 in 2010

Number of CTRs received and time frame: 15,400 in 2010

The following is a list of STR covered entities covered by Slovenian Law:

    • Banks
    • Agricultural credit institutions
    • Lawyers
    • Money changers
    • Notaries
    • Gaming centers
    • Securities dealers

MONEY LAUNDERING CRIMINAL PROSECUTIONS/CONVICTIONS:

 

Prosecutions: 233 in 2010
Convictions:  None in 2010

 

ENFORCEMENT AND IMPLEMENTATION ISSUES AND COMMENTS:

The bases of Slovenia‘s anti-money laundering measures are the Slovenian Criminal Code, the Act on the Prevention of Money Laundering and Financing of Terrorism and sector-specific laws. There are no major deficiencies in key preventive standards. Slovenia has systems and procedures in place to facilitate both national and international cooperation. Weak supervision and lack of guidance to certain non-banking sectors could have an impact on the effectiveness of the anti-money laundering/counter-terrorist finance regime.