Norway Country Summary

FATF Status

Norway is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The latest follow-up to the Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Norway was published in 2023. According to that Evaluation, Norway was deemed Compliant for 19 and Largely Compliant for 18 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 5 of the Effectiveness & Technical Compliance ratings.

Norway exhibits a strong commitment to combating crime and corruption, characterized by a transparent legal framework and effective enforcement mechanisms. While the country faces challenges such as human trafficking and organized crime, its robust democratic governance, well-resourced judicial system, and active civil society contribute to a high resilience against criminal activities and corruption.

Norway boasts a modern and highly developed economy characterized by a high per capita GDP, largely driven by its robust oil and gas sector, alongside significant contributions from industries such as shipping, aquaculture, and professional services. The country is politically stable and ranks favorably in various global indices, including transparency and ease of doing business, which fosters a conducive environment for both domestic and foreign investments. Although the government maintains ownership in key sectors and imposes some restrictions on foreign ownership of natural resources, it actively encourages foreign investment through liberalized policies and a dedicated investment promotion agency, positioning Norway as an attractive destination for international business.