XCHANGE FINANCE in considering money laundering risks, regulations and guidance decided that certain types of relationship are unacceptable:
● shell banks;
● individuals or entities that are on relevant sanctions lists issued by countries in compliance with UN resolutions or to which countries have applied sanctions unilaterally (UK, US and others);
● individuals or entity whose identity cannot be verified or who refuses to provide information required to verify identity or required for account opening purposes;
● who has provided information that contains inconsistencies that cannot be resolved after further investigation;
● Where there is suspicion or evidence of found, money laundering or other criminal activity or involvement;
● If falsified documentation or information is detected during the account opening/relationship establishment process;
● Individuals, entities and organizations sanctioned by UN, EU, LV, HM Treasury list or OFAC; An account using a pseudonym or number rather than the actual name of the Client;
● Anonymous ownership entity accounts, where the ownership of the entity cannot be determined because the entity has a form or structure that prevents an account accurate identification of the Beneficial Owners;
● Unlicensed financial institutions, including unlicensed currency exchange houses and money transmitters and Persons involved in unlawful internet gaming business;
Merchants, whose business Merchant Category Code (MCC) is included into the International Card organizations prohibition list.
Failure to comply with these restrictions can result in delayed payments or rejected payments with continuous breaches leading to account closure
Xchange finance reserve the right to report and disclosе the information to law enforcement authorities.