Financial Crime Prevention Tips in Norway

In today’s highly demanding regulatory and risk environment, preventing financial crime is a top priority for financial institutions in Norway. To stay ahead of the curve, organizations need to be proactive, risk-based, and systematic in their approach.

Anti-Money Laundering and Counter-Terrorist Financing

Money laundering and terrorist financing are growing concerns globally, with Norway not immune to these risks. Our team of experts helps Norwegian financial institutions evaluate AML programs and systems, identify potential weaknesses and efficiency gains, and meet regulatory obligations.

• Services:
  • Reviewing and developing governance frameworks, policies, systems, and procedures
  • Conducting risk assessments and model validation
  • Implementing KYC and onboarding automation
  • Providing expert opinions and gap analysis for overall AML management systems
  • Conducting compliance reviews and internal audits

Anti-Bribery and Corruption

Fraud and corruption are key challenges facing organizations in Norway, with fraud expected to increase by 25-60% from now to 2025. Our team of experts helps Norwegian companies develop anti-corruption and fraud management programs, and audit against global standards and guidelines.

• Services:
  • Risk assessments and gap analysis
  • Developing anti-corruption and fraud governance frameworks
  • Implementing fraud detection and handling systems
  • Conducting 3rd party due diligence
  • Providing training on obligations, risks, and processes

International Sanctions Management

Norwegian financial institutions subject to international sanctions compliance need to ensure they have the necessary capabilities to meet obligations. Our team of experts helps organizations manage international sanction regulations, including screening and monitoring systems.

• Services:
  • Expert advice on current sanction regimes
  • Assessing exposure to international sanction regimes
  • Developing policies and procedures specific to business activities

Fraud Management

Preventing transaction fraud is crucial for Norwegian financial institutions. Our team of experts helps organizations develop fraud risk assessments, detection and handling systems, and prevention policies.

• Services:
  • Conducting fraud risk assessments
  • Implementing fraud detection and handling systems
  • Developing fraud prevention policies and procedures

By following these financial crime prevention tips in Norway, financial institutions can stay ahead of the curve and protect their reputation and assets.