Meaning of FIDUCIARY ACCOUNT in English

FIDUCIARY ACCOUNT

An amount typically deposited with a Swiss Bank which will redeposit the sum with a third party bank outside Switzerland in its own name (to overcome Swiss withholding tax on interest).

UNODC Money-Laundering terms English dictionary.      Английский словарь терминов управления ООН по отмыванию денег, преступности и наркотикам.