Norway

Norway's progress in strengthening measures to tackle money laundering and terrorist financing

28 Mar 2019

This follow report analyses Norway’s additional progress in addressing the technical compliance deficiencies identified in its 2014 Mutual Evaluation and the March 2018 Follow-Up report.

Norway’s measures to combat money laundering and terrorist financing

18 Dec 2014

This report provides a summary of the anti-money laundering (AML) /counter-terrorist financing(CFT) measures in place in Norway as at the date of the on-site visit (27 March to 11 April 2014). It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Norway’s AML/CFT system, and provides recommendations on how the system could be strengthened.

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Norway Follow-Up Report - 2023

R.1 - Assessing risk & applying risk-based approach: LC
R.2 - National cooperation and coordination: LC
R.3 - Money laundering offence: C
R.4 - Confiscation and provisional measures: C
R.5 - Terrorist financing offence: C
R.6 - Targeted financial sanctions related to terrorism & terrorist financing: LC
R.7 - Targeted financial sanctions related to proliferation: C
R.8 - Non-profit organisations: LC
R.9 - Financial institution secrecy laws: C
R.10 - Customer due diligence: LC
R.11 - Record keeping: C
R.12 - Politically exposed persons: C
R.13 - Correspondent banking: PC
R.14 - Money or value transfer services: C
R.15 - New technologies: LC
R.16 - Wire transfers: C
R.17 - Reliance on third parties: LC
R.18 - Internal controls and foreign branches and subsidiaries: LC
R.19 - Higher-risk countries: LC
R.20 - Reporting of suspicious transactions: C
R.21 - Tipping-off and confidentiality: C
R.22 - DNFBPs: Customer due diligence: LC
R.23 - DNFBPs: Other measures: LC
R.24 - Transparency and beneficial ownership of legal persons: PC
R.25 - Transparency and beneficial ownership of legal arrangements: C
R.26 - Regulation and supervision of financial institutions: C
R.27 - Powers of supervisors: C
R.28 - Regulation and supervision of DNFBPs: C
R.29 - Financial intelligence units: LC
R.30 - Responsibilities of law enforcement and investigative authorities: C
R.31 - Powers of law enforcement and investigative authorities: LC
R.32 - Cash couriers: C
R.33 - Statistics: PC
R.34 - Guidance and feedback: LC
R.35- Sanctions: C
R.36 - International instruments: C
R.37 - Mutual legal assistance: LC
R.38 - Mutual legal assistance: freezing and confiscation: LC
R.39 - Extradition: LC
R.40 - Other forms of international cooperation: LC

C = compliant | LC = largely compliant | PC = partially compliant | NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.