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Managed Bank

Financial DictionaryUNODC Money-Laundering Terms Dictionary
An offshore bank also known as a Class "B", Shell Branch or Cubicle Bank. The Managed Bank is not required to maintain a physical presence in the licensing jurisdiction. Its presence in the licensing jurisdiction is passive with nominee directors and officers provided by a managing trust company with a physical presence. The Managed Bank is not permitted to transact business within the licensing jurisdiction but may maintain its books, records, etc., to assure secrecy of operations.
Copyright © 2005 UNODC - United Nations Office on Drugs and Crime.
See also: ZAPP , D O , HAI , VABK , YCT


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A: Page 1 of 129.


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