Banking services offered to individuals or entities residing outside the jurisdiction in which the bank operates. These may include account management, foreign exchange transactions, and international payment solutions tailored to the needs of non-resident clients.
Main/
Non-Resident Banking Services
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Code
PS0014
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Name
Non-Resident Banking Services
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Version
1.0
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Category
Deposit & Account Services
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Created
2025-03-14
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Modified
2025-04-02
Related Techniques
- Opening accounts as non-residents in certain jurisdictions reduces scrutiny and oversight.
- Criminals use these services to shuttle funds from illegal logging or fishing operations away from their country of origin, complicating AML controls.