Underground banking (also mostly in German, more rarely also UntergrundBankensystem)

In regulatory language, the operation of banking and financial services of any kind without permission (any network or mechanism that can be used to transfer funds or value from place to place either without leaving a formal paper trail of the entire transaction or without going through regulated financial institutions at all, including hawala). It is largely concentrated among ethnically segregated groups within a society, such as immigrants from Mexico and Asia in the U.S., who are approached preferentially from steam rooms there; or asylum seekers, guest workers, and first-generation immigrants in Europe. It is not uncommon for this black market to also offer forged and falsified papers of all kinds, especially those that are threatened with confiscation. In addition, the risk of money laundering is particularly high here. Despite these obvious facts, customer loyalty in the underground banking sector is considered to be unusually high. – See Blind Pool, Bonhase, Counterfeit Card, Steam Room, Domicile Concealment, Financial Intelligence Unit, Financial Agent, Financial Vulture, Secret Tip, Money Laundering, Money Transfer Agent, Ghetto Banking, Gold Value, Grudge Effect, Foundation Swindle, International Business Company, Internetoffers, hawala, buy orders, unauthorized, client capitalism, offshore financial centers, peer-to-peer lending, place check, remittance services, shadow banking, skimming, tangibility, bureaux de change, angle brokers, interest, double-digit. – Cf. BaFin Annual Report 2003, pp. 71, 73 f., BaFin Annual Report 2004, p. 82, BaFin Annual Report 2005, p. 185 (phishing), BaFin Annual Report 2007, p. 215 (package services targeted by supervision), and the respective BaFin Annual Report, chapter “Cross-sectional tasks,” Financial Stability Report 2012, pp. 67 ff. (in-depth analysis of the shadow banking sector as a whole).

Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent!
University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/