The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has published follow-up reports on Estonia and the Slovak Republic re-assessing their compliance with the Financial Action Task Force (FATF) recommendations.
In its follow-up report on Estonia, MONEYVAL concludes that the country has improved its efforts towards implementing targeted financial sanctions related to terrorism and terrorist financing. In the meantime, further steps are needed for the full or large compliance with the recommendations which Estonian authorities requested for a review. Overall, out of the 40 FATF recommendations, Estonia is currently rated as compliant on seven recommendations, largely compliant on 19 recommendations, and partially compliant on 14 recommendations.
In its follow-up report on the Slovak Republic, MONEYVAL finds that the country has made progress in addressing some of the deficiencies impacting the application of FATF recommendations on non-profit organizations, virtual assets and virtual assets service providers, and high-risk countries. However, this progress is insufficient, and all three recommendations remain rated Partially Compliant. Out of the 40 FATF recommendations, the Slovak Republic is currently rated as compliant on five recommendations, largely compliant on 23 recommendations and partially compliant on 12 recommendations.
Both Estonia and the Slovak Republic remain under MONEYVAL's enhanced follow-up procedure and are expected to report back on their further progress in strengthening anti-money laundering and combatting terrorism financing measures by December 2025. In addition, the Slovak Republic should provide an update on its compliance with FATF Recommendation 10 (customer due diligence) by June 2025.
Anti-money laundering: Estonia makes progress in implementing targeted financial sanctions related to terrorism and terrorist financing
MONEYVAL: Slovakia has made limited progress to enhance its framework against money laundering and terrorist financing
