Older term for a credit institution founded from the outset with the intention of collecting deposits from customers, which are then misappropriated by the bank’s founders. Thanks to the obligation to obtain a bank license and the supervision by the supervisory authorities, such institutions are nowadays probably only found in offshore financial centers. – Popularly also referred to an institution operating unfairly to the detriment of its customers (an institute operating outside the banking norms of standard and ethical business procedures). – See agiotage, cold calling, daimonion, enabler, financial vulture, secret tip, money grubber, foundation swindle, international business company, Internet forums, capital market, gray, misochrematie, avenging angel, shadow banking, underground banking.
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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/