Almost all funds swindled from the NPD now returned

Source: press release, 11 February 2020

Norwegian Petroleum Directorate headquarters in Stavanger, Norway
Norwegian Petroleum Directorate headquarters in Stavanger, Norway (photo: NPD)

In November of last year, the Norwegian Petroleum Directorate (NPD) was the target of a payment fraud amounting to 17.6 million kroner. Most of these funds, around NOK 17 million, have now been returned to the Directorate.

“We are obviously very pleased that most of the funds fraudulently taken from us have been returned,” says Assistant director Torhild S. Nilsen.

The money has been returned to the NPD thanks to good efforts on the part of the DnB bank, which secured return of the funds from a foreign bank.

After the fraud, the NPD sought assistance from PwC, which has expertise in investigating these types of cases. They have recommended actions that the NPD can take to further improve payment routines. Improvements are now being introduced in line with these recommendations. There are no indications of data breaches in the NPD’s systems, or that our data security has failed.

“While we did indeed believe that our payment routines were good before this happened, this proves that anyone can be vulnerable to this type of advanced crime.”

“We therefore believe that openness around such a case of fraud is important. Perhaps in this way we can contribute to help others learn, and thus avoid being swindled,” says Torhild S. Nilsen.