Financial Crime World

Fraudulent Activities in Finance in Norway Under Scrutiny

Norway has taken a zero-tolerance approach to curbing corruption and mismanagement in its financial sector by implementing a robust complaint mechanism to handle allegations of fraud and irregularities under the European Economic Area (EEA) and Norway Grants.

Complaint Mechanism

Each beneficiary state, as per Article 12.7 of the Regulations on the implementation of the EEA and Norwegian Financial Mechanisms, has set up a complaint system that handles complaints, including alerts on suspected fraud and irregularities. The mechanism is founded on the principles of openness, transparency, and accountability.

Reporting Suspected Fraudulent Activities

Members of the public who suspect mismanagement or corruption under the EEA and Norway Grants are encouraged to share their concerns with:

  • National Focal Point of the beneficiary state
  • Fund Operators of the Active Citizens Fund
  • Financial Mechanism Office (FMO)
  • Other agents responsible for managing grant schemes

Complaints may be submitted in English to the FMO, which will investigate the allegations according to internal procedures. The Norwegian Office of the Auditor General (Riksrevisjonen) also supervises the FMO and Norway Grants, ensuring transparency and accountability in their management.

Entities Accepting Complaints

Complaints can be submitted to:

  • National Focal Points for the EEA and Norway Grants
  • National audit institutions or ombudsmen in beneficiary states
  • Directly to the FMO
  • Relevant fund operators for the Active Citizens Fund

Available Resources

A report on closed fraud and irregularities is available online, providing an overview of cases investigated and resolved. The FMO has also developed a step-by-step guide on how to report fraud and irregularities in a few simple steps, which can be downloaded as an infographic.

Conclusion

With its robust complaint mechanism and commitment to transparency, Norway’s financial sector is well-equipped to detect and prevent fraudulent activities, ensuring the integrity of its grant schemes.