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Norway Anti-Money Laundering Act (Act of 1 June 2018 No. 23)

Norway's Anti-Money Laundering Act (LOV-2018-06-01-23, in force 15 October 2018) requires obliged entities to take a risk-based approach (Sections 6-7),…

What Norway Anti-Money Laundering Act (Act of 1 June 2018 No. 23) requires

Norway's Anti-Money Laundering Act (LOV-2018-06-01-23, in force 15 October 2018) requires obliged entities to take a risk-based approach (Sections 6-7), apply customer due diligence (Sections 9-14), conduct enhanced due diligence including for politically exposed persons (Section 18), examine and report suspicions to Okokrim (Sections 25-27), and retain records for five years (Section 30), under the supervision of Finanstilsynet (Section 43).

Pillar: Financial Crime, AML & Sanctions · Authority: Finanstilsynet (Financial Supervisory Authority of Norway); Okokrim (FIU) · Version: 1.0.0 · Last updated:

Primary source: https://lovdata.no/dokument/NLE/lov/2018-06-01-23

SHA-256 integrity: e8dc0b8f8bf120a6d5f90d5619f60f10b4f210d4f3db82704a01e378e2be915b

Primary Citations — 7 traced to source

  • Norway Anti-Money Laundering Act 2018, Section 6 - Risk-based approach
  • Norway Anti-Money Laundering Act 2018, Section 10 - Situations requiring customer due diligence

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