Norway's financial sector faces a sophisticated new threat as organized crime shifts from physical break-ins to digital fraud. In a coordinated 2024 operation, 217 individuals arrived at multiple DNB bank branches, often in minibusses. They were predominantly Eastern European citizens carrying identical green document folders, requesting to become customers and then establish sole proprietorships at the same addresses.
A Coordinated Onslaught on Bank Branches
DNB does not know the precise motive behind this coordinated action. However, according to a presentation obtained by media, the bank suspects it was preparation for organized criminal activity. The identity of the 217 individuals is not publicly known, and they have not been able to provide their explanation for the events. The incidents occurred in 2024 but have not been previously reported. DNB has declined to answer specific questions about the contents of its internal presentation, citing customer confidentiality obligations.
The New Tools of Financial Crime
Experts frame this as part of a dangerous evolution in criminal methodology. "Where one previously used a crowbar to commit burglaries at a jeweler and steal valuable jewelry, access to BankID and companies are today's criminal tools," said Henrik Skådinn, a senior advisor at NFR Group. NFR Group advises banks and other entities on protecting themselves against crime. Skådinn, a former police investigator specializing in economic crime, stressed he cannot know for certain what was behind the large group's visits to DNB. He stated on a general basis that this is a typical action pattern for criminal networks rigging themselves to commit organized economic crime like labor market crime, serious fraud, and money laundering.
An Industrial Scale Problem for Authorities
This incident underscores a systemic challenge for Norwegian law enforcement. Police Superintendent Gaute Storbråten has previously stated that authorities now see organized crime on an "industrial scale," noting that "the only thing you need is identities. And businesses." Banks are legally prohibited from alerting customers if they suspect them of financial crime. Instead, they must discreetly report their suspicions to Økokrim, the national authority for investigating economic and environmental crime. Norwegian banks send over 22,000 such messages to Økokrim annually, which lacks the capacity to investigate or review them all. DNB itself sent 35 percent more of these reports last year than the year before, according to a recent report. A DNB statement noted, "We now see that economic crime is intensifying and becoming more professionalized."
The Systemic Vulnerabilities Exploited
The operation exposes key vulnerabilities in the financial system's front lines. The attempt to establish multiple sole proprietorships at identical addresses is a classic red flag for creating shell companies. These entities can then be used to launder money, orchestrate complex frauds, or facilitate labor exploitation by creating a veneer of legitimate business activity. The coordinated, mass-scale approach suggests a high level of organization and planning, aiming to overwhelm standard branch-level due diligence procedures. This move from discreet, individual fraud to brazen, group-based operations represents a significant escalation in tactics.
The Banking Sector's Silent Struggle
Banks like DNB are caught in a difficult position. They have a duty to stop illicit activity but face strict legal constraints on how they can act. The 'duty of disclosure' forbids them from warning customers under suspicion, a rule designed to prevent criminals from being tipped off and destroying evidence. This forces banks into a silent cat-and-mouse game, where they must internally identify patterns—like groups of people opening similar accounts—and report them without being able to directly confront the suspected individuals. This places immense pressure on their internal monitoring and compliance teams to act as the first line of defense for the entire financial system.
Capacity Crisis at the Investigation Level
The sheer volume of reports creates a bottleneck at Økokrim. With over 22,000 tips annually from banks alone, the agency must prioritize only the most severe cases. This volume means many reports, including potentially those stemming from operations like the one at DNB, may not lead to immediate or any investigation. This gap between detection and enforcement can create a perceived safe space for criminals, encouraging repeated and scaled attempts. The professionalization of crime directly challenges the resource limitations of public institutions, creating a strategic imbalance that sophisticated networks seek to exploit.