Multiple Bank

Multiple Bank

A bank that provides more than one type of banking service. For example, a bank that provides retail services, investment banking services, and brokerage services is a multiple bank. In the United States, multiple banks have become more common since the repeal of the Glass-Steagall Act in 1999.
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Pakistan Muslim League-Nawaz (PML-N) MNA Khawaja Saad Rafique has received an amount of Rs 460 million in multiple bank accounts since the past eight years, a published in local media said Monday.
He was also said to be the mastermind of other attacks in Abuja, which include the Lugbe police officers killer; Gwagwalada area police killings, while Umar was also said to be the 'overall commander of Edo and Ondo states multiple bank robberies, and several killings in the Okene area of Kogi.
Among the new products being developed by HSBC is an app that allows users to view multiple bank accounts in one place.
Antonio Trillanes IV that the President and his family hid huge sums of money in multiple bank accounts.
The 38-year-old denied the charges as he claims that he has multiple bank accounts and wrote the cheque in error.
In addition, he pointed out that the electronic connectivity of all the accounting units at all levels of the state budget across the country is being circulated with the banking system of the TSA and the closure of multiple bank accounts to enhance the electronic payment and collection system.
A study by NADRA in 2012 found out 3.5 million Pakistanis living in posh areas who frequently travel abroad, operate multiple bank accounts and travel in luxury vehicles but dont pay a penny in tax.
Ireland entered an EU-IMF bailout programme in November 2010, borrowing 67.5 billion to fund a deficit that exploded on the back of multiple bank failures.
He may claim parenthood of the "Third Way" between Marxism and capitalism but his multiple bank accounts fall resoundingly in favor of a tyrannical corruption of the later
So far, the technique has been used to "track an alleged terrorist bomb maker" who used multiple identities, multiple bank accounts, third parties and third countries to buy bomb-making equipment to an overseas factory.
CPAs should be alert to businesses that have a questionable rationale for using multiple bank accounts.
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