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Norway’s largest bank is suspected of violating the Money Laundering Act.
- Fabian Skalleberg Nilsen
- Henrik Røyne (VG)
Published:,
In February 2020, Finanstilsynet conducted a routine money laundering inspection of DNB’s operations in Norway.
The bank has received a preliminary report and a fine may soon be imposed.
– This does not apply to suspected money laundering. What they are warning about a fee is inadequate enforcement of the Money Laundering Act, after seeing what oversight we have, how we do risk assessments and if we have good enough reports, says Thomas Midteide, DNB’s director of communications.
Finanstilsynet is considering imposing a NOK 400 million infringement administrative fee on DNB. This is approximately 7 percent of the maximum amount that Finanstilsynet can impose and 0.7 percent of DNB’s turnover.
FIGHT: DNB’s communications director says the big bank is fighting those who use its systems to commit financial crimes.
Morten Uglum
– Fight that goes on all the time
Midteide says it remains to be seen whether the bank will have to pay this fee.
– Now we will explain our opinion on the case, and it will probably be a few months before it is decided. The reason we’re dating him now is because we feel like he’s more orderly in terms of informing the market in advance, he says, adding:
– The fight against financial crime is very important to DNB. We are constantly working to improve, but so does the criminal. It is a fight that happens all the time.
Read DNB’s message here
