Prohibited industries and countries

We comply with U.S. anti-money laundering rules and the economic sanctions administered by the U.S. Office of Foreign Assets Control (OFAC), the United Nations and the other jurisdictions where we operate, and apply our own risk policy. This list is representative, not exhaustive.

1. Prohibited countries and regions

We do not open accounts for businesses based in, and do not send or receive payments involving:

• Afghanistan
• Belarus
• Cuba
• Iran
• Myanmar (Burma)
• North Korea
• Russia
• Syria
• Crimea, Donetsk, Luhansk and the other Russian-occupied regions of Ukraine

2. Restricted countries

Payments involving the following countries are only possible after enhanced due diligence and prior approval from our compliance team, and may be declined:

• Burundi
• Central African Republic
• Democratic Republic of the Congo
• Eritrea
• Haiti
• Iraq
• Lebanon
• Libya
• Nicaragua
• Somalia
• South Sudan
• Sudan
• Venezuela
• Yemen

3. Sanctioned persons

We screen every client, director, beneficial owner, beneficiary and payment against the OFAC SDN list and other applicable sanctions lists, and do not process any payment involving a sanctioned person or intended to avoid sanctions.

4. Prohibited activities

• Any activity illegal in one of the countries involved
• Weapons, ammunition, military goods and services
• Narcotics, cannabis and CBD products, and controlled substances
• Counterfeit, stolen or illegally traded goods, and intellectual property infringement
• Trade in protected species
• Human trafficking, forced labour, child exploitation
• Adult content and sexual services
• Gambling, betting and lotteries with cash prizes
• Unlicensed financial services, crypto-asset exchanges and purchases, binary options and forex or CFD trading platforms
• Shell company services using nominees to hide ownership
• Pyramid schemes and promises of unrealistic returns
• Unregistered charities, payments made to evade taxes or hide the parties, and payments through a third party to get around these rules

5. Enhanced checks

We may accept, after enhanced checks and compliance approval: money services and payment businesses; authorised importers and distributors of pharmaceuticals; wholesale alcohol and tobacco; precious metals and stones; oil, gas, mining and commodity trading linked to higher-risk regions; registered charities and foundations; businesses controlled by politically exposed persons.

Not sure whether your business or a payment is eligible? Contact us before opening an account: info@voltasquare.com.