Anti-Money Laundering - summary

A priority at BN Bank is to contribute towards uncovering and fighting financial crime, as well as individuals trying to gain financially through criminal actions. Efforts within this area are seen as a vital part of protecting BN Bank’s economy, reputation and employees. BN Bank takes a zero-tolerance approach to any kind of corruption.

 

Actions seen as financial crimes are:

  • Money laundering and terrorist financing
  • External frauds
  • Internal misconduct

BN Bank complies with Norwegian laws and other regulations, as well as internation regulations ratified by Norwegian authorities. This goes for every division of the bank. The most important ones are:

  • The Anti-Money Laundering Act of 2018
  • The regulations to the Anti-Money Laundering Act of 2018
  • "Circular No. 8/2019, Guide to Anti-Money Laundering Act"

Norway is a member of the Financial Action Task Force (FATF) and Norwegian laws are in compliance with EU laws and regulations. Like all Norwegian financial institutions, BN Bank ASA is supervised by The Financial Supervisory Authority of Norway (www.finanstilsynet.no).

Norwegian regulations are based on recommendations from FATF and Directive (EU)2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing.

BN Bank has established internal routines to detect and prevent any attempt on money-laundering and terrorist financing. The bank has established routines for customer due diligence (the Know-Your-Customer principle), reporting and internal control and communication procedures to ensure that the obligations pursuant to the Act are fulfilled.

BN Bank is registered in the Bankers Almanac Due Diligence Repository.


Documents:

Wolfsberg AML Questionaire

US Patriot Act