The violation consists of deficiencies in customer due diligence in transactions with high-risk customers, according to FI.
"Norion has not done what is required to acquire sufficient knowledge of corporate customers associated with a high risk of money laundering and terrorist financing. The bank has also not met the requirements for how financial companies should assess whether customers' beneficial owners are politically exposed persons or individuals who have a close connection to such persons," FI writes in a press release.
