shell institution
Defined in Article 2, Anit Money Laundering Regulation (AMLR)
Definitions over time (1)
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09/07/2024 – today applies on 12/11/2026 Article 2, Anit Money Laundering Regulation (AMLR) Scope: Whole act
1. For the purposes of this Regulation, the following definitions apply:
‘shell institution’ means: for credit institutions and financial institutions other than crypto-asset service providers: a credit institution or financial institution, or an institution that carries out activities equivalent to those carried out by credit institutions and financial institutions, created in a jurisdiction in which it has no physical presence, involving meaningful mind and management, and which is unaffiliated with a regulated financial group; for crypto-asset service providers: an entity whose name appears in the register established by the European Securities and Markets Authority pursuant to Article 110 of Regulation (EU) 2023/1114 or third country entity providing crypto-asset services without being licensed or registered nor subject to AML/CFT supervision there;