As part of our ongoing commitment to mitigate the risk of money laundering & terrorist financing., ibanex has placed a number of restrictions on the type of industries, activities, and countries we are able to support and service.
Failure to comply with these restrictions can result in delayed payments or rejected payments with continuous breaches leading to account closure.
Non-Permitted Industries
- Weapons / Military-Grade Security
- Multi-Level Marketing
- Pawnbrokers
- Political Organizations
- Precious Metals
- Adult Entertainment
- Drug paraphernalia
- Carbon Credits
- Crypto Currencies
- Gambling
- Ponzi / Pyramid Schemes
- Firms involved in the servicing of illegal goods/services including but not limited to: Counterfeit Goods/trademark infringement, Human Trafficking, Child Labor, Prostitution.
Non-Permitted Client Types
- Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘Layering.’
- Shell Banks
- Unregistered Charities
Non-Permitted Activities
- Clients are not allowed to use our services to speculate changes in FX
- Transactions deriving from Crypto Currencies
If you require further information on our non-permitted activities or are not sure if your business qualifies for an account with us please contact us on +44 0330 124 3084.
