Publication: Magyar Közlöny
Issue: MK-2005-156 (Year: 2005, Number: 156)
Era: 2004-2010
Section: 
Paragraph Index: 150

4. With the aim of pre ven ting and de tec ting trans fers of pro ce eds of of fen ces es tab lis hed in ac cor dan ce with this Con ven ti on, each Sta te Party shall imp le ment app rop ri a te and ef fec ti ve me a su res to pre vent, with the help of its re gu la to ry and over sight bo di es, the es tab lish ment of banks that have no phy si cal pre sen ce and that are not af fi li a ted with a re gu la ted fi nan ci al gro up. Mo re o ver, Sta tes Par ti es may con si der re qu i ring the ir fi nan ci al ins ti tu ti ons to re fu se to en ter into or con ti nue a cor res pon dent bank ing re la ti ons hip with such ins ti tu ti ons and to gu ard aga inst es tab lis hing re lat ions with fo re ign fi nan ci al ins ti tu ti ons that per mit the ir ac co unts to be used by banks that have no physical presence and that are not affiliated with a regulated financial group.

Source: https://magyarkozlony.hu/hivatalos-lapok/df153fcf49b596fdf8f9407cf5890c5dd8c5d595/dokumentumok/a1bfd083350df9a591c67448fde603155f6830c3/letoltes