Services / Finance Law

Anti-Money Laundering and Sanctions

Keeping up with anti-money laundering (AML) and sanctions regulations is an ongoing task for businesses. As requirements evolve and regulatory expectations increase, we assist clients in understanding their obligations, managing risks, and strengthening compliance efforts.

The financial sector is well-acquainted with anti-money laundering (AML) regulations and generally maintains strong procedures for managing money laundering risks. However, the regulatory landscape is constantly evolving, and practical compliance remains a challenge. Most supervisory reports highlight deficiencies in compliance. In addition, sanctions regulations have gained increased significance following Russia’s invasion of Ukraine.

Compliance with these regulations is critical, and failure to adhere to them can result in severe consequences, including enforcement orders, coercive fines, disqualification from leadership positions, administrative penalties, criminal fines, and, in extreme cases, imprisonment.

We assist clients both within the financial sector and across other industries in ensuring compliance with AML and sanctions regulations. This includes maintaining an accurate and up-to-date understanding of the rules, implementing robust procedures and documentation, and managing the practical aspects of compliance.

We closely monitor regulatory developments on a weekly basis, whether from Norwegian authorities (the Financial Supervisory Authority of Norway), the EU, or FATF (the Financial Action Task Force). Norway largely aligns with EU regulations, and the latest AML package—including the Sixth Anti-Money Laundering Directive and the establishment of a European anti-money laundering authority (AMLA)—will have significant implications for Norwegian businesses.