Prohibited Businesses - Industries we do not provide services to

No-Go Business Policy

We are committed to maintaining the highest standards of risk management and compliance. The nature of a client's business is a critical factor in assessing the risks associated with a client relationship. We have identified specific businesses that fall outside of our risk appetite, classifying them as "no-go" businesses. Consequently, we cannot offer services to individuals or companies engaged in these sectors.

Defining No-Go Businesses

A "no-go" business is one that, following a thorough evaluation, is deemed to pose a risk level not aligned with our policies. This determination is guided by regulatory guidelines and internal risk assessments. Such businesses are considered high-risk due to potential involvement in regulatory non-compliance, money laundering, other illegal activities, ethical concerns, or significant reputational risks.

No-Go Businesses Include*:

The following industries are classified as no-go businesses:

• Digital Currency industry (e.g. Brokers, Crypto-to-Crypto Exchanges, ICO companies)
• Unauthorized / unlicensed gambling entities
• Arms manufacturers and dealers involved in illegal production / distribution of arms and munitions
• Private Military Firms
• Correspondent relationships with Shell Banks
• Payable Through Accounts
• Entities involved in funding through pre-paid card transactions
• Sex industry / Red Light Business
• Narcotic related industries e.g. Coffee Shops / Grow Shops

Please Note

This list is subject to regulatory changes and may be updated accordingly.

Implications for Affected Existing Clients

For existing clients whose businesses are classified as no-go (due to client’s change in business or a reclassification of an existing business), we will not be able to continue providing services. This includes the termination of the client relationship with us and the discontinuation of all related services, such as account access and trading facilities.

Such termination will be communicated with relevant notice and follow the standard process.

Support and Assistance

If you have any questions or require further information regarding our Financial Crime Prevention policy, please do not hesitate to contact us via Case Management.