Foreign Shell Bank Law and Legal Definition
According to 31 CFR 103.175 [Title 31 -- Money And Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter I -- Monetary Offices, Department of the Treasury; Part 103 -- Financial Recordkeeping and Reporting of Currency and Foreign Transactions; Subpart I -- Anti-Money Laundering Programs; Special Due Diligence for Correspondent Accounts and Private Banking Accounts], foreign shell bank means “a foreign bank without a physical presence in any country.”
Legal Definition list
- Foreign Service Normal Cost
- Foreign Service Institute [FSI]
- Foreign Service Grievance Board Regulations
- Foreign Securities Authority
- Foreign Sales Corporation
- Foreign Shell Bank
- Foreign Sovereign Immunities Act of 1976 [FSIA]
- Foreign State
- Foreign State of Chargeability [Immigration]
- Foreign Tax
- Foreign Tax Credit
