Wednesday, April 21, 2021

Unit of Norway’s DNB fined in anti-money laundering probe


Norway’s Financial Supervisory Authority (FSA) said on Tuesday it had fined a subsidiary of Norwegian bank DNB for failing to comply with anti-money laundering regulations.

DNB Naeringsmegling, a real estate brokerage for commercial property, was given a so-called non-compliance fee of 30,000 Norwegian crowns ($3,532) for failing to properly impose control routines and adequately train employees, the FSA said.

“No money laundering activities or attempted money laundering activities were found in the inspection,” DNB said in a statement.

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“In the last six months we have introduced a number of measures aimed at strengthening the anti-money laundering efforts of the company,” it added.

Six other real estate brokers were also fined on Tuesday following inspections which took place in late 2018, the FSA said.

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