AML Guide Norway-AML and KYC guidance for Norway

Example

Providing interpretation and explanations of complex legal requirements such as identifying PEPs or implementing proper customer due diligence (CDD) measures.

Scenario

A real-world case would involve a financial institution needing guidance on how to handle a customer flagged as a politically exposed person (PEP) under Norwegian law. AML Guide Norway would offer detailed steps on enhanced due diligence required for PEPs, referencing local laws and EU directives.

Example

Helping institutions conduct thorough risk assessments related to customer onboarding, particularly for higher-risk clients.

Scenario

For instance, an insurance company onboarding a high-net-worth individual might use AML Guide Norway to assess the risk of money laundering based on the individual’s business ties, geographical location, and other factors.

Example

Guiding companies in setting up internal compliance systems to monitor ongoing transactions for signs of suspicious activity.

Scenario

A payment service provider could rely on AML Guide Norway to implement monitoring tools that detect transactions exceeding certain thresholds or involving high-risk jurisdictions, ensuring they fulfill their reporting obligations under the Hvitvaskingsloven.