Norway – Financial Treason & Crime

DNB to Be Fined $48.1 Million for Anti-Money-Laundering Inadequacies

Dominic Chopping, 03 May 2021

DNB AS A on Monday confirmed that Norway’s financial supervisory authority, Finanstilsynet, will impose a fine of 400 million Norwegian kroner ($48.1 million) for inadequate compliance with anti-money-laundering rules and legislation.

Norway’s largest lender said in December that the fine was a possibility. It has already recorded the fine in its annual accounts for 2020.

Finanstilsynet has also published a report on investigations into Samherji, an Icelandic fisheries company that had been accused of money-laundering and corruption. Continue reading “Article: DNB to Be Fined $48.1 Million for Anti-Money-Laundering Inadequacies”

Goldman Sachs starts shorting the dollar as economic reopenings boost foreign currencies

Ben Winck, 01 June 2020

Economic reopenings outside the US are lifting foreign currencies and creating a strong opportunity for some bets against the dollar, Goldman Sachs strategists said in a Sunday note.
Cash assets served as an initial safe haven for investors as the coronavirus spread throughout the US in March and fueled new recession fears. With economic reopenings taking effect around the world and new stimulus measures further lifting sentiments, the firm highlighted the Norwegian krone as best suited for a bet against the dollar.

“We have maintained for some time that it was too early to look for outright and sustained dollar downside given the balance of cyclical risks,” the team led by Zach Pandl wrote. Yet “the steady reopening process, limited evidence of a pickup in COVID infection rates” and new relief policy like the EU Recovery Fund make Norway appear “well-positioned to outperform through the coronavirus shock,” they added.

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Tag: Norway

Article: DNB to Be Fined $48.1 Million for Anti-Money-Laundering Inadequacies

Article: Goldman Sachs starts shorting the dollar as economic reopenings boost foreign currencies