Browse by year:


Internal Market

Internal market: Supervision of money laundering still insufficient in Norway

8.7.2015

PR(15)33

EN | NO

Norway has failed to comply with the judgment of the EFTA Court in case E-13/13 concerning anti-money laundering and terrorist financing. Today, the EFTA Surveillance Authority delivered a reasoned opinion urging Norway to fulfil its obligations.

Following the judgment of 2 December 2013, Norway was required to immediately take action to bring its legislation on anti-money laundering and terrorist financing in compliance with EEA law. More than eighteen months after the judgment, Norway has still not complied with the judgment.

Under Norwegian law, providers of certain services to trusts or companies and other natural or legal persons trading in goods that make large payments in cash, are not subject to effective supervision by a public authority. Under Directive 2005/60/EC, such an authority should have been appointed in order to ensure that these persons respect the relevant anti-money laundering rules.

The overall purpose of this supervision is to prevent and combat money laundering and terrorist financing, and thus to safeguard the integrity of the financial sector and other sectors as well.

The purpose of the Authority's reasoned opinion is to give Norway a last chance to take corrective measures before the Authority decides whether to bring the matter before the EFTA Court once more.

 

For further information, please contact:

Mr. Andreas Kjeldsberg Pihl
Press & Information Officer
tel. (+32)(0)2 286 18 66
mob. (+32)(0)492 900 187





Other EEA Institutions


imgbanner2
This website is built with Eplica CMS