Norway Finds Handelsbanken Failures in Money-Laundering Controls

Norway’s Financial Supervisory Authority said it found “serious deficiencies” in anti-money laundering compliance at Svenska Handelsbanken AB’s Norwegian branch following an on-site inspection two years ago.

At the time of the inspection in March 2024 the financial regulator found weaknesses in risk assessments, routines and customer due diligence, as well as shortcomings in ongoing follow-up of customer relationships and outsourcing, according to a statement on Thursday.

The watchdog also cited failures related to investigations and reporting, internal controls and training, as well as the rules on measures against money laundering and terrorist financing.

A Handelsbanken spokesperson said in an ...