Shell bank

A mailbox is a bank, in which it has its seat in the country, and is approved, is not physically present, has no business operations and no regulating financial services group is affiliated. The actual offices are located in other countries, incoming mail is forwarded to there to so-called representation offices that make any bank transactions to the authorities, but merely for advice.

Shell banks evade an effective banking supervision and have often been involved in illegal or suspicious financial transactions (money laundering, terrorist financing ... ). The FATF urges not to allow shell banks and not to cooperate with banks that are in relationship with shell banks.