Money laundering and terrorist financing are criminalised under the Slovenian Criminal Code as standalone crimes. The penalties for money laundering and financing terrorism provided in the Criminal Code are imprisonment from one to 15 years, depending on the severity of the crime, and in certain cases along with imprisonment a court may impose also a fine and confiscation of money and assets.
Legal entities can bear criminal liability under Slovenian law. A legal entity can be sanctioned with a fine or with forfeiture of property, and winding up the legal entity in certain cases, depending on the severity of the crime.
The AML Act provides a range of sanctions for non-compliance with the key requirements, such as CDD, record-keeping, and suspicious transaction reporting. Fines vary depending on the type of the infringement, the type of infringer (an individual or entity, or type of entity—credit and financial institutions, etc.), whether its initial, repeated or systematic, and can reach as high as EUR 5 million or up to 10% of the annual turnover according to the consolidated accounts of the parent undertaking for the previous year.
Progress appears to have been made in recent years regarding ML/TF investigations, however MONEYVAL has stated that the fight “is not fully prioritized” and that “authorities should be more proactive in investigating and prosecuting ML related to serious crime, in line with Slovenia’s risk profile”.