DNB Faces Fine for Not Complying With Money Laundering Rules
This article is for subscribers only.
Norway’s biggest bank has been warned that it may be fined 400 million kroner ($45 million) for failing to comply with anti-money laundering rules.
The Financial Supervisory Authority in Oslo criticized DNB ASA’s inadequate compliance with the Norwegian Anti-Money Laundering Act, and has warned the bank that an administrative fine may follow, DNB said in a statement. The FSA has yet to finalize the report.