A possible fine against DNB is unrelated to Samherji
Today it was reported that the Norwegian bank DNB might receive a fine from the Norwegian supervisory body Finanstilsynet. Samherji has no knowledge of this potential fine beyond what may be read in the media. Although this fine has been associated with Samherji's business with DNB, there is no mention of Samherji or affiliated companies in DNB's announcement regarding the fine, and there is no indication that the possible fine is due to DNB's relationship with Samherji.
According to the media reports, this fine stems from an ordinary anti-money-laundering inspection against DNB in February this year. The conclusion is apparently that DNB's general systems and work to detect money-laundering have been insufficient. Similar inspections have led to fines also for smaller Norwegian banks.
DNB explicitly say in their public statement that Finanstilsynet does not accuse them of having aided customers in laundering money, but rather they are accused of generally not following the detailed Norwegian legal framework for anti-money-laundering efforts.
Samherji has not been contacted in this case or in any way been involved in the process. We consider this to be an issue between DNB and the relevant Norwegian authorities. Nevertheless, the Norwegian newspaper Dagens Næringsliv chooses to implicate Samherji in the matter with a story published today, thus implying that the DNB's alleged insufficient system to detect money-laundering is in some way related to Samherji's transactions with the bank. Samherji has already sent a statement to the newspaper with a correction, as the fine in question is unrelated to Samherji.
For further information, contact:
Margrét Ólafsdóttir
