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 is recognized as one of the least corrupt countries globally, ranking fourth on Transparency International's 2023 Corruption Perceptions Index, with strong anti-corruption laws that apply to both domestic and international contexts. The Norwegian Penal Code criminalizes various forms of corruption, and enforcement is robust, with the economic crime-fighting unit ØKOKRIM effectively investigating and prosecuting cases. However, recent evaluations suggest that amendments to the Penal Code could enhance the prosecution of foreign bribery committed by Norwegians abroad, indicating areas for improvement in Norway's already strong anti-corruption framework.

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 shipping, shipbuilding, and aquaculture. The country maintains a politically stable environment with strong property rights and regulatory enforcement, ranking highly in global indices for ease of doing business and transparency. Despite facing inflation and rising interest rates in 2023, Norway's unemployment rate remains low at 3.9 percent, reflecting a resilient labor market.

Norway has a welcoming investment climate, characterized by national treatment for foreign investors and a strong emphasis on liberalizing foreign investment legislation to align with EU standards. The government actively promotes foreign investment through the "Invest in Norway" agency, although some restrictions exist in sectors like natural resources and public services. With a significant presence of foreign-owned companies and a robust legal framework, Norway's investment environment is considered safe and transparent.