DNB: Samherji accounts, Finanstilsynet's NOK 400m AML fine and Økokrim's closed probe
DNB: Samherji accounts, Finanstilsynet's NOK 400m AML fine and Økokrim's closed probe: a public-record watch file compiled by Falling Shares Intelligence from filings and exchange disclosures, as of 2026-11-09. In November 2019 reporting on leaked 'Fishrot' documents alleged that Icelandic fishing group Samherji had used DNB accounts in connection with payments linked to Namibia; Økokrim opened an investigation of DNB.
From the 2019 Fishrot reporting on Samherji's DNB accounts to Økokrim closing its corruption inquiry in 2021 and Finanstilsynet's NOK 400m fine for AML compliance failures: what the record shows and what the bank says.
Falling Shares Intelligence, Edited by Wung Thomas, Editor-in-Chief. As of .
Summary
- In November 2019 reporting on leaked 'Fishrot' documents alleged that Icelandic fishing group Samherji had used DNB accounts in connection with payments linked to Namibia; Økokrim opened an investigation of DNB.
- By February 2021 Økokrim had told DNB it would not be prosecuted, according to DNB; in May 2021 Finanstilsynet confirmed a NOK 400m fine for AML compliance failures.
- DNB accepted the fine, says it was not suspected of money laundering, and acknowledges customer due diligence shortcomings. The Namibian prosecution of former officials is separate and does not name the bank.
Key figures
| Finanstilsynet fine | NOK 400m (Confirmed 3 May 2021; AML Act compliance; accepted by DNB) |
|---|---|
| Companies in the findings | 6 (Customer due diligence shortcomings at six Samherji-linked companies, per DNB) |
| Namibian charges | 42 (Against former officials and others; DNB not named in the report reviewed) |
The Samherji accounts and Økokrim
Fishrot reporting names DNB accounts
Icelandic broadcaster RÚV reported on the leaked Fishrot Files, about 30,000 documents suggesting Samherji paid Namibian officials for fishing quotas. Icelandic media also reported that Samherji used DNB to move more than $70m to a shell company in the Marshall Islands. (Nov 2019)
Økokrim opens investigation
Økokrim, Norway's economic crime authority, announced it was investigating DNB's relationship with Samherji and alleged corruption in Namibia. (Nov 2019)
Finanstilsynet's inspection and fine
Proposed fine after AML inspection
Press reports said Norway's financial regulator had found DNB's compliance with the anti-money laundering law inadequate and indicated a fine of about NOK 400m. DNB said any fine was not related to any suspicion of money laundering or complicity in it, and that the inspection covered only its Norwegian operations. (7 Dec 2020)
Fine of NOK 400m confirmed
DNB announced that Finanstilsynet's final report confirmed a NOK 400m fine for inadequate compliance with the Anti-Money Laundering Act. DNB said the regulator found customer due diligence shortcomings at six companies linked to the Samherji case and concluded that the board and management did not prioritise AML work. (3 May 2021)
Outcomes and DNB's position
Økokrim closes the corruption inquiry
DNB said Økokrim had told it that its investigation had not produced information giving grounds for criminal prosecution, and that the bank would not face criminal prosecution. DNB said it had cooperated and shared all relevant information. (By 16 Feb 2021)
DNB: no suspicion of money laundering
DNB said it was not under suspicion of money laundering or complicity in it, accepted the fine and did not announce an appeal. It acknowledged the due diligence shortcomings, said its own investigations had found the same issues, and said that some incidents in the Samherji case were time-barred under the earlier AML Act. (3 May 2021)
Samherji: no accusation against DNB of aiding laundering
Samherji said the penalty arose from an ordinary AML inspection, that the regulator did not accuse DNB of helping customers launder money, and that Samherji was one of about 400 customers involved. It said the regulator's special report on its relationship with DNB was inaccurate and that the regulator never contacted Samherji. (3 May 2021)
The Namibian prosecution
Trial of former officials continues
In Namibia, 10 accused including a former minister face 42 charges including corruption, fraud and racketeering; the State alleges they helped Samherji obtain fishing quotas by corrupt means. The trial was set to resume on 9 March 2026, and reports in April 2026 described a defence application for the trial to proceed while appeals continue. (Jan-Apr 2026)
Standard
This file compiles regulator documents, company statements and published reporting about DNB Bank ASA and its parent DNB ASA, which reports as one group. Allegations are attributed to those who made them. An investigation is not a charge, a charge is not a finding, and nothing here is a finding of wrongdoing unless a competent authority has made one. Finanstilsynet's fine concerns anti-money laundering compliance, not an allegation of money laundering by the bank. DNB says it was not suspected of money laundering or complicity in it, and Økokrim is reported to have found no grounds to prosecute. Individuals are not named unless an official document names them and they are central; otherwise roles are used. This is news coverage for information only, not investment advice.
Right of reply
DNB Bank ASA, and anyone named in a record cited here, can send corrections or comments to info@fallingshares.com (or directly to the Editor-in-Chief, Wung Thomas, at wungthomas@fallingshares.com). Material responses will be published alongside the relevant entry.