DNB NOK 400 million AML sanction
Company: DNB Bank ASA
Summary
Finanstilsynet found serious deficiencies in DNB Bank ASA's compliance with Norway's Anti-Money Laundering Act. The regulator's 2020 inspection and its examination of DNB's handling of customer relationships linked to the Samherji group identified significant AML shortcomings. Based on violations under the current AML Act, Finanstilsynet imposed an administrative fine of NOK 400 million in 2021. Finanstilsynet later reported that the decision was not appealed. Sources: https://www.finanstilsynet.no/en/news-archive/inspection-reports/2021/inspection-report--dnb-bank-asa/ and https://www.finanstilsynet.no/en/publications/annual-report/annual-report-2021/reports-from-the-supervised-sectors-for-2021/money-laundering-and-financing-of-terrorism/