The Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) has issued follow-up reports on Estonia and the Slovak Republic, re-assessing their compliance with Financial Action Task Force (FATF) recommendations. The reviews find Estonia has improved implementation of targeted financial sanctions related to terrorism and terrorist financing, while Slovakia has made only limited progress in addressing deficiencies in several areas. For Estonia, further steps are still needed to reach full or large compliance with the recommendations it requested for review. Overall, Estonia is rated compliant on seven of the 40 FATF recommendations, largely compliant on 19, and partially compliant on 14. For the Slovak Republic, progress was noted on recommendations relating to non-profit organizations, virtual assets and virtual asset service providers, and high-risk countries, but it was assessed as insufficient and all three recommendations remain partially compliant; overall, Slovakia is rated compliant on five recommendations, largely compliant on 23, and partially compliant on 12. Both countries remain under MONEYVAL’s enhanced follow-up procedure and are expected to report back on further progress by December 2025. The Slovak Republic is also expected to provide an update on its compliance with FATF Recommendation 10 on customer due diligence by June 2025.
Council of Europe 2025-01-14
Council of Europe’s MONEYVAL publishes follow-up reports on Estonia and Slovakia and keeps both under enhanced follow-up
The Council of Europe’s MONEYVAL issued follow-up reports on Estonia and the Slovak Republic, assessing their compliance with FATF recommendations. Estonia showed improvement in implementing financial sanctions related to terrorism, achieving compliance on seven recommendations, while Slovakia made limited progress, remaining partially compliant on key areas. Both countries remain under enhanced follow-up, with further updates expected in 2025.