Offshore banks typically operate as branches or subsidiaries of a parent bank located in a different country. While some offshore banks may be located in countries with a lower tax and regulatory burden, they are not typically located on old oil drilling platforms or in countries like North Korea and Iran.

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Offshore Banks

Question 45

Multiple Choice

Offshore banks

A) are frequently located on old oil drilling platforms located in international waters.
B) are often located in "pariah" countries like North Korea and Iran.
C) operate as branches or subsidiaries of the parent bank.
D) none of the above

Correct Answer: