shell banks

English - Turkish

Definition of shell banks in English Turkish dictionary

Related Terms

shell bank

(Finans) Tabela bankası

English - English

Definition of shell banks in English English dictionary

Related Terms

shell bank

(Finans) A shell bank is a financial term that describes a bank that does not have a physical presence in any country. In order to prevent money laundering Subtitle A of the USA PATRIOT Act specifically prohibits such banks, with the exception of shell banks that are affiliate (under the control) of a bank that has a physical presence in the U.S. or if the foreign shell bank is subject to supervision by a banking authority in the non-U.S. country regulating the affiliated depository institution, credit union, or foreign bank

Hyphenation

shell Banks

Turkish pronunciation

şel bängks

Pronunciation

/ˈsʜel ˈbaɴɢks/ /ˈʃɛl ˈbæŋks/