Yes. Slovakia is a member of the European Union, which implements UN sanctions in all member states by way of directly applicable regulations.
Does Slovakia implement an autonomous sanctions regime?
What is the nature of the sanctions regime in Slovakia?
Slovakia follows restrictive measures laid down by the UN, the EU and other international organisations which are binding on Slovakia. In cases where EU legislation does not impose UN Security Council sanctions, a national law is used to implement them. Under Act no. 126/2011 Coll. on the Implementation of International Sanctions (“the Act”), if the sanction does not follow from a directly applicable act of the EU, it should be declared by the Government of the Slovak Republic through a Government Decree.
Moreover, the EU 3rd Anti-Money Laundering Directive no. 2005/60/EC was implemented in Slovakia by Act no. 297/2008 Coll. on the prevention of money laundering and terrorist financing and on changes and amendments of some other acts. This stipulates the rights and obligations of companies and natural individuals on the prevention and detection of the use of the financial system for the purpose of money laundering and terrorist financing and also includes the penalties for non-compliance.
Does Slovakia maintain a list of sanctioned individuals and entities?
No. Slovakia relies on UN and EU sanctions lists.
Are there any other lists related to sanctions?
Does Slovakia have a licensing or authorisation system in place?
Yes. The Act stipulates that if a special permission, consent or preceding consent is required in connection with the implementation of the international sanctions, then the Central bodies, as determined by the Act, are responsible to act and decide.
What are the consequences for a breach of sanctions in Slovakia?
The consequences for breach of sanctions are set out in the Act. They are:
for individuals, a fine from €5,000 to €132,800
for companies or entrepreneurs, a fine from €50,000 to €1,659,700
depending on the breach, criminal liability which entails imprisonment
Who are the relevant regulators in Slovakia and what are their contact details?
There is no single central regulator responsible for the monitoring of the application of sanctions in Slovakia. Supervision is exercised by the following central bodies, depending on the area of their authority:
The Central central authority for AML reporting serves is the Financial Intelligence Unit (“FIU”) at the National Criminal Agency of the Slovak Interior Ministry, Presidium of the Police forces (Financná spravodajská jednotka).
Ministerstvo vnútra SR (Slovak Interior Ministry), )
Prezídium Policajného zboru,
národná kriminálna agentúra,
812 72 Bratislava
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