The Norwegian Financial Supervisory Authority (Finanstilsynet) published slides from its “News from Finanstilsynet” presentation at Finance Norway’s specialist seminar on anti-money laundering and counter-terrorist financing, covering preparations for the EU anti-money laundering package, current supervisory focus on terrorist financing, and a new internal workstream on simplifying requirements and processes for supervised entities. On the EU package, the material outlined the shift from European Banking Authority-led arrangements to the new Anti-Money Laundering Authority (AMLA), with a timeline showing AMLA’s governing bodies established in May 2025, the authority starting work in summer 2025, and 40 entities to be selected for direct supervision in December 2025. The slides also indicated a staffing ramp-up to around 80 employees during 2027 and 430 by the end of 2027, when AMLA is shown as becoming fully operational and starting direct supervision, alongside references to supplementary rules on customer due diligence, supervisory authorities’ risk assessments of firms, and sanctions. On terrorist financing, Finanstilsynet highlighted typologies including overlap between sabotage and terrorism, the use of digital platforms for recruitment and fundraising, and the involvement of minors, and described ongoing thematic reviews of firms’ risk assessments (Anti-Money Laundering Act Section 7), risk classification (Section 9) and requirements for electronic monitoring systems (Section 38). On simplification, Finanstilsynet reported that it has set up a working group to identify measures on regulation and requirements, reporting, and supervisory or administrative practice, with a focus on efficiency and proportionality and an explicit distinction between simplification and deregulation. Industry input was presented as an important input to the work, which may also be taken forward through relevant fora.

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