Title: New Measures Unveiled in Norway’s Fight Against Economic Crime and Money Laundering
Introduction
OSLO - In response to the increasing internationalization and organization of economic crimes, such as money laundering and tax evasion, the Norwegian government has launched a new action plan to boost efforts in detecting and combating these illicit activities. The ministers of Justice and Public Security, Odd Einar Dørum, and Finance, Per-Kristian Foss, emphasized the importance of addressing economic crime and its far-reaching impacts.
Key Components of the Action Plan
Strengthening Law Enforcement Capabilities
- Establishing multidisciplinary economic crime teams: A total of 108 teams will be created by the end of 2025, consisting of financial investigators, accountants, lawyers, and other experts.
- Enhancing the capabilities of the police and public prosecution authority.
Improving Legal Frameworks
- Proposed legislative changes: Strengthening provisions against tax evasion and fraud, increasing transparency, and expanding the powers of law enforcement agencies in seizing assets and investigating economic crimes.
International Cooperation
- Collaborating with countries and international organizations, such as the European Union and the Financial Action Task Force (FATF), to develop best practices, share knowledge, and strengthen international efforts against economic crime.
Research and Data Collection
- Enhancing research on economic crime and data collection, allowing for a more accurate assessment of the scale and impact of economic crimes on society.
Public Awareness and Education
- Increasing public awareness and education regarding economic crime and how to prevent it through campaigns and partnerships with private organizations and civil society.
Ministers’ Emphasis on Rule of Law and Democratic Values
The ministers maintained that their efforts to prevent and reduce economic crime would not infringe on citizens’ privacy or democratic values. By addressing economic crime, they stated that they would contribute to a more equitable business environment, increased employment, and overall economic growth.
Conclusion
Norway’s new action plan for combating economic crime is a comprehensive response to the growing threat of economic crimes, both domestically and internationally, while respecting the country’s trusted and democratic society. Through this extensive effort, the government aims to strengthen the rule of law, prevent and reduce economic crime, and promote a culture of transparency and integrity.