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Anti-money laundering and terrorist financing – Norway to Court for the second time




Two years after the EFTA Court handed down a judgment against Norway for failure to fully implement rules to fight money laundering and terrorist financing, the EFTA Surveillance Authority today had to refer Norway to Court for a second time.

Mr. Frank Büchel, Member of the Authority's College, stated: «This breach is particularly serious and of concern as the EEA Agreement depends upon Norway's loyalty and commitment to respect such a judgment.»

Following the EFTA Court's judgment in Case E-13/13, 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 two years later, Norway has still not proposed or adopted any such legislation. This failure to comply with the Court's judgment in a timely manner constitutes itself a breach of EEA law.

Directive 2005/60/EC requires that  providers of certain services to trusts or companies and other natural or legal persons trading in goods that involve large payments in cash are subject to effective supervision. Norway has hitherto failed to ensure that a public authority is entrusted with the task of effectively supervising those persons, and thereby respecting the relevant anti-money laundering and terrorist financing rules.

Norway has received two warnings from the Authority, in July 2014 and in July 2015, about its failure to respect the judgment.

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

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