The Financial Supervisory Authority of Norway, working with the Norwegian Data Protection Authority, has published final reports from four multi-firm projects run in the authorities’ regulatory sandboxes to test how data sharing can be used to strengthen efforts against financial crime and to assess whether regulatory development may be needed. The projects covered data sharing to combat fraud involving DNB, Nordea, SpareBank 1, Eika Gruppen and Norwegian Computing Center; legal questions linked to expanded cooperation and information exchange using BankID data with Stø; a tip channel to detect and prevent insurance fraud with Finance Norway Insurance Operations; and information sharing to strengthen the Eika banks’ anti-money laundering work with Eika Gruppen and KPMG. The authorities note that the participating firms are large and represent a significant share of Norway’s banking market, and that the sandbox work helped identify and clarify key issues and provide input into rule development. The final reports will be presented at a joint seminar hosted by the two authorities on 6 February, with a recording to be made available.
Norwegian Finanstilsynet 2026-02-03
Financial Supervisory Authority of Norway and Norwegian Data Protection Authority publish final reports from joint data-sharing sandbox projects on financial crime
The Financial Supervisory Authority of Norway and the Norwegian Data Protection Authority published final reports from regulatory sandbox projects testing data sharing to combat financial crime. The projects involved major firms like DNB, Nordea, and SpareBank 1, focusing on fraud prevention, legal cooperation, and anti-money laundering efforts. The findings aim to clarify key issues and inform regulatory development.