Pirate Bank

The obvious joke here probably involves tellers who wear eye patches and say "Arrr!!" when you make a withdrawal. We'll just skip that and roll right into the definition.

The non-cosplay variety of pirate bank relates to financial services for illegal activity. These organizations provide banking for people looking to hide the fact that they have...money. These services could hide or launder funds for criminals (drug dealers, etc.). Or they can provide a haven for people who earned money legally, but are looking to avoid taxes by socking cash away outside of the view of regulators.

As historical pirates would cruise the Caribbean, these pirate banks are often associated with small island nations with lax banking regulations. However, these days, pirate banks don't necessarily need a physical home. They can exist in virtual form...a digital version of an offshore account.