TITLE: Slovakia's Financial Intelligence Unit Imposes Fine on TWINS INVEST for Anti-Money Laundering Violations
BODY:
On May 22, 2026, Slovakia's Financial Intelligence Unit (Finančná spravodajská jednotka), operating under the Ministry of the Interior's Police Force Presidium, issued an administrative decision imposing a fine of EUR 15,000 against TWINS INVEST, s.r.o. (registration number 46 462 040), based in Bratislava-Petrzalka. The decision was rendered under the Anti-Money Laundering and Counter-Terrorism Financing Act (Act No. 297/2008 Z.z.).
The Financial Intelligence Unit (FIU) identified multiple breaches of anti-money laundering obligations during the control period from January 1, 2021 to February 28, 2024. TWINS INVEST failed to develop and implement an adequate internal compliance program addressing money laundering and terrorism financing risks as required by law. The entity did not properly conduct customer due diligence procedures, including failure to obtain complete identification information such as national identification numbers, dates of birth, and state citizenship. The FIU documented 239 transactions involving occasional business dealings outside established business relationships, with transaction values reaching EUR 15,000 or more, where the entity failed to verify customer identity, conduct beneficial ownership checks, and assess whether customers were politically exposed or sanctioned persons. Additionally, TWINS INVEST did not implement enhanced due diligence measures proportionate to the money laundering and terrorism financing risks presented by these transactions, particularly those involving precious metals.
The fine must be paid within 15 days of the decision becoming final to the State Treasury account IBAN SK27 8180 0000 0070 0017 9874. The FIU will publish the operative part of this decision on its website for five years as a public sanction. The decision became final on May 22, 2026.