NorwayFinanstilsynet, the Financial Supervisory Authority of Norway, published its annual report for 2020, including the country’s efforts to supervise institutions’ compliance with anti-money laundering and counterterrorist financing requirements.
The Council of Europe’s Group of States against Corruption published a fifth evaluation round report concerning Norway’s efforts to prevent corruption and promote integrity in law enforcement agencies and central governments, including top executive functions.
Norway’s DNB anticipates $48 million penalty, Swedbank tagged with $5 million fine, and more, in the midweek roundup.
Jersey fines three institutions, Norway drops DNB graft probe, and more, in the midweek roundup.
The Financial Supervisory Authority of Norway, or Finanstilsynet, imposed an administrative fine of NOK 400 million against the Oslo, Norway-based financial institution for anti-money laundering and counterterrorist financing failures.
| Technical | Effectiveness |
|---|---|
| Compliant : 19 | High : 0 |
| Largely Compliant : 16 | Substantial : 5 |
| Partially Compliant : 5 | Moderate : 6 |
| Non-Compliant : 0 | Low : 0 |
Norway's technical compliance was re-rated in a March 28, 2019 follow-up report. FATF re-rated the effectiveness of Norway's AML/CTF framework in a Dec. 5, 2019 follow-up assessment.
| Rank : 5/110 |
| Score : 3.35/10 |
| Rank : 7/179 |
| Score : 84/100 |
| Rank : 71/133 |
| Score : 44/100 |