Finance Ministry denies 1,000-kroner note’s decline / News / The Foreigner

Finance Ministry denies 1,000-kroner note’s decline. Several Norwegian media have recently reported the Ministry of Finance wishes to dispose of the 1,000-kroner banknote to combat economic crime. This doesn’t appear to be true, according to information The Foreigner has received. The Ministry writes in an email that it’s aware several (unnamed) sources have called for removing the note from circulation, and has already asked Økokrim (the National Authority for Investigation and Prosecution of Economic and Environmental Crime), as well as the Financial Supervisory Authority (Finanstilsynet/FSA) for their opinion. Both the FSA and Økokrim replied, writing that in their view the ends don’t justify the means. The ministry passed it on to Norges Bank, but didn’t set a deadline.

norges, bank, ministry, finance, thousand-kroner, notes, economic, crime, national, authority, investigation, prosecution, oekokrim, financial, supervisory, finanstilsynet



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Finance Ministry denies 1,000-kroner note’s decline

Published on Tuesday, 22nd June, 2010 at 14:05 under the news category, by Michael Sandelson   .

Several Norwegian media have recently reported the Ministry of Finance wishes to dispose of the 1,000-kroner banknote to combat economic crime. This doesn’t appear to be true, according to information The Foreigner has received.

Thousand-kroner notes
Thousand-kroner notes
Photo: Norges Bank


The Ministry writes in an email that it’s aware several (unnamed) sources have called for removing the note from circulation, and has already asked Økokrim (the National Authority for Investigation and Prosecution of Economic and Environmental Crime), as well as the Financial Supervisory Authority (Finanstilsynet/FSA) for their opinion.

Both the FSA and Økokrim replied, writing that in their view the ends don’t justify the means. The ministry passed it on to Norges Bank, but didn’t set a deadline.

“Calls for removing the 1,000 kroner note as a method to make financial crime mor difficult have to be weighed up against the need to keep it as a form of payment. We therefore ask the Bank to consider whether, and in which case when, the 1,000-kroner note could be removed from circulation, if applicable. We haven’t considered the matter for now,” writesthe Ministry.



Published on Tuesday, 22nd June, 2010 at 14:05 under the news category, by Michael Sandelson   .

This post has the following tags: norges, bank, ministry, finance, thousand-kroner, notes, economic, crime, national, authority, investigation, prosecution, oekokrim, financial, supervisory, finanstilsynet.





  
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