ContentsShell Banks4th AMLDDefinitionProhibition of correspondent relationship with shell banksGerman GwGDefinitionEnhanced Due Diligence Shell Banks Understanding the concept of shell banks is crucial for professionals and institutions in the financial sector. Defined in both the 4th Anti-Money Laundering Directive (Directive (EU) 2015/849) and the German Money Laundering Act (GwG), shell banks represent a significant point of focus in efforts to prevent money laundering and ensure financial transparency. Definition of Shell Banks in the 4th AMLD The 4th AMLD, a cornerstone of EU financial regulation, provides a clear definition of shell banks. According to the directive, a shell bank is an institution, either a credit or financial … Shell Banks weiterlesenRead More →