Custom Directorate Wants Stricter Rules for Money Transfer out of Norway

Current regulation only makes it mandatory to fill out a form and declare the money, if you are going to take more than 25.000 NOK out of the country. But no one asks any questions about what the money will be used on.

In November 2013 Ministry of Finance has started to revise the opportunities to change currency registry regulation. They feared that increased export of currency has contributed to the financing of terrorism, and groups associated with other serious crimes.

As a side of the issue, Toll- og avgiftsetaten advocates to tighten the control. In a letter of recommendation published on NRK, the Directorate suggests that everyone who takes large amount of money out of Norway must specify where the money comes from, what they will be used on, who owns them and who should receive them.

The Directorate refers to EU’s declaration form practice in their recommendation letter. Such information will be of benefit to the custom authorities at both declaration points and later after controls.

– Although it is obvious that it will not necessarily be given the correct information, such a requirement make the customs authorities in a better position to assess whether the export and import trade is related to handling stolen goods and money laundering or other forms of crime, writes The Directorate in the letter.

In November last year, Police Security Service (PST) said to NRK that they suspect money being collected in Norway are sent to terrorist groups in Syria. In response, Finance Minister Siv Jensen (FRP) said there was reason to be deeply concerned.

– Norwegians have a large giving heart and will give money to humanitarian causes around the world. It is important that we can be confident about the donations go to good causes and not to terrorist financing, she said in November.

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