Possible administrative fine from Finanstilsynet (the Financial Supervisory Authority of Norway) following supervisory inspection
In February 2020, Finanstilsynet conducted an ordinary AML inspection in DNB. DNB has now received a preliminary report from the inspection, which indicates that there is a possibility that an administrative fine of NOK 400 million may be imposed on the bank. DNB has not been complicit in money laundering, but Finanstilsynet criticises the bank for inadequate compliance with the Norwegian Anti-Money Laundering Act. On the basis of the criticism, Finanstilsynet writes in a preliminary report that it is considering imposing an administrative fine of NOK 400 million on the bank. This