Regulatory Alerts2019-12-23
Guidance on Accountants and Accounting Firms' Compliance with Anti-Money Laundering Regulations
The Norwegian Financial Supervisory Authority issued this guidance to clarify the obligations of accounting firms and individual accountants under the Money Laundering Act. It mandates the implementation of risk-based internal controls, including the appointment of a money laundering responsible person, comprehensive staff training, and regular enterprise-wide risk assessments. The document further details specific requirements for customer due diligence, enhanced measures for high-risk clients, and procedures for reporting suspicious transactions to the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime.
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