New Anti-Money Laundering Regime Comes Into Effect In Norway

New anti money laundering rules came into effect in Norway today. The financing of terrorist activity is brought within the scope of the rules for the first time, and allowable exceptions to the obligation to produce proof of identity are

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New anti-money laundering rules came into effect in Norway today. The financing of terrorist activity is brought within the scope of the rules for the first time, and allowable exceptions to the obligation to produce proof of identity are being further limited. In addition, copies of documents legitimising people and transactions must now be kept, instead of merely references to such documents. Although banks in Norway have been subject to anti-money laundering rules for some time, the new rules also bring estate agents, lawyers, auditors and dealers in valuable objects into the scope of the regime for the first time.

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