DNB ASA fined $48.1 million for Anti-Money Laundering failings

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DNB ASA, Norway’s largest financial services group, has been issued a penalty of NOK 400 million ($48.1 million) for failing to adhere to Norwegian Anti-Money Laundering Act standards. The Financial Supervisory Authority of Norway (Finanstilsynet) imposed the fine following an inspection of DNB’s anti-money laundering policies and procedures. With enforcement action on the increase, all firms should take the opportunity to review the adequacy and effectiveness of their anti-money laundering policies and procedures.


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