Norway's Financial Supervisory Authority and Data Protection Authority admit five data-sharing projects to the regulatory sandbox to combat financial crime

The Financial Supervisory Authority of Norway (Finanstilsynet) and the Norwegian Data Protection Authority (Datatilsynet) have selected five projects for their regulatory sandbox to explore how data can be shared to better prevent and detect economic crime, while navigating potentially conflicting legal requirements. All five applications received from industry were accepted. The projects cover information sharing to combat fraud (DNB, Norsk Regnesentral, SpareBank 1, Nordea and Eika), expanded collection and sharing of merchant data (BankID BankAxept AS), improved use of information banks already collect and report related to economic crime (BN Bank with Skatteforsk at NMBU), information gathering and sharing to uncover and prevent insurance fraud (Finans Norge Forsikringsdrift), and greater centralisation of anti-money laundering work across banks in a group (Eika Gruppen with KPMG). The sandbox is positioned as an informal forum to clarify regulatory questions rather than build technical solutions, and to assess whether regulatory development may be needed. Work in the sandbox is expected to start shortly, with the two authorities and participants further developing and narrowing the questions to be examined. A final report will be prepared and published once the projects are completed.