Question

In the context of Anti-Money Laundering (AM

  • L and KYC norms, which of the following best defines a "Shell Bank"?
A A bank established specifically to fund environmental initiatives.
B A bank that operates strictly online with no physical branch network but is heavily regulated.
C A bank incorporated in a jurisdiction where it has no physical presence and is unaffiliated with a regulated financial group.
D A temporary banking structure set up during national emergencies.
E A subsidiary of a central bank used to hold excess foreign reserves.
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