Criminal networks are behind sophisticated fraud schemes that inflict enormous losses on the state and banks. Now Økokrim is sounding the alarm about the new methods.

Norway’s economic crime agency Økokrim fears that no one is seeing the bigger picture. The criminal networks are laundering proceeds from outright narcotics crime through fraud and other forms of economic crime, writes VG.

Such methods have two advantages: There is a great deal of money in circulation, and the level of punishment is lower. Masterminds can easily conceal themselves behind front men, and it is easy to launder the money.

State schemes are abused with a few keystrokes.

– Criminal networks have increasingly moved towards engaging in multi-crime activities, says Økokrim Deputy Director General Gunnar Holm Ringen, and continues:

– We are seeing more economic crime in Norway, it has become more international, and we see that this crime is increasingly being carried out through companies.

Criminal networks use their funds to acquire legitimate companies.

– And the reason for that is entirely obvious: You then have a history attached to the company, and therefore greater creditworthiness, says Holm Ringen.

The networks use their criminal proceeds to drain society on several fronts simultaneously:

• Tax crime involving fictitious employees and VAT reimbursements
• Fraud against NAV through false salary claims and sickness benefit claims
• Bank loans based on false payslips and manipulated accounts
• Ultimately, the company is declared bankrupt – and the Wage Guarantee Fund is drained

Money laundering from, among other things, the sale of narcotics is actively used in business operations. This is also highlighted as a principal challenge in the report National Risk Assessment of Money Laundering 2026, which is being published on Wednesday.

By means of such methods, the criminal networks are able to expand their areas of operation.

“Criminal networks are threat actors that have given rise to concern over time,” the report states, also noting that the level of risk is high because “the criminal model works.”

The masterminds are located far from the front lines and run minimal risk.

– There is definitely reason for concern, says Holm Ringen of Økokrim regarding the new methods employed by criminal networks.

No one sees the overall picture of these criminal acts, Holm Ringen believes.

– There are so many people, both in the private and public sectors, who see their own perspective, assess their own losses and consider cost-benefit from this limited perspective.

But is the profit generated by the criminal networks acceptable for Norwegian society as a whole? Holm Ringen points to another important aspect:

– Another issue is that they use it to finance new, serious crime. This in turn contributes further to strengthening the criminals’ ability to commit new crimes, such as narcotics crime, which is an unfortunate spiral.

The criminals cooperate with facilitators such as accountants and auditors, and obtain information from contacts employed by banks, estate agents, construction companies or the public sector.

“Employees may be subjected to bribery or pressure from criminal actors who have both the willingness and the ability to make use of persons in key positions in order to carry out criminal acts,” the recent report from Økokrim states.

Some of the employees offer such services themselves, while others already have close ties to the criminal networks.

Økokrim estimates that NOK 75–80 billion is laundered in Norway annually, with real estate being an attractive sector.