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Prohibited Business List

Last updated: January 2024

At the outset, any business that meets any of the following conditions are not eligible to use Xflow's services:

  • are named as restricted persons or entities under any sanctions lists,
  • directly or indirectly provide goods or services to or otherwise engage or deal in, or are located in countries or regions which are under sanctions or are deemed high risk by Xflow,
  • offer products or services that are are illegal or relate to any illegal activities under the laws of the jurisdictions in which such businesses are located or target to,
  • do not appear to have any legitimate purpose, including without limitation, activities such as money laundering, terrorist financing, human trafficking, fraud, wildlife trafficking, organ trafficking, environmental crime, political corruption, trafficking in endangered species etc., or
  • Xflow deems it to be unfair, deceptive or predatory.

Without prejudice to the generality of the foregoing, the following categories of businesses are prohibited from using Xflow:

  1. Money or value transfer services - Examples of such businesses are money transmitters, check cashing, wire transfers, money orders, currency exchanges or dealers, bail bonds, collections agencies, informal value transfer systems, payment processing resellers/downstream processing providers etc;
  2. Shell companies or any other structures where the concerned entity is owned via nominal ownership or is managed via nominal directors, shell banks, bearer share companies, payable-through-account holders or any other businesses that appear to circumvent currency controls or anti-money laundering norms;
  3. Offshore holding/investment companies involved solely in managing or investing funds;
  4. Virtual currency or stored value or other virtual asset service providers - Virtual currency exchanges, miners, administrators, and any other virtual asset service providers; entities that directly service the crypto industry;
  5. Entities that are involved in or suspected of being involved in manufacturing, use, sale, or trade of counterfeit or pirated goods, sales, distribution, or access to counterfeit music, movies, software, or other proprietary materials without the appropriate authorization from the rights holder or other intellectual property or proprietary rights infringement including any product or service that directly or indirectly infringes or facilitates infringement of the trademark, patent, copyright, trade secrets, or other proprietary rights of any third party such as copyright unlocking technology;
  6. Entities engaged in the sale of goods or services that are illegally imported or exported;
  7. Entities engaged in the business of betting or gambling including lotteries, raffles, bidding fee auctions, sports forecasting or odds making, fantasy sports leagues with cash prizes, internet gaming contests, sweepstakes, games of chance, casinos and gambling equipment including "junket operators" that arrange gambling tours, bookmaking, racing (for cars and animals);
  8. Entities engaged in the sale or distribution of Illegal products or services;
  9. Entities engaged in sale or distribution of Marijuana or recreational drugs, sale of tobacco and cigarettes, illicit drugs, psychoactive substance or paraphernalia, magical remedies alcohol or alcoholic beverages, e-cigarettes, and e-liquid, age-restricted goods or services;
  10. Entities engaged in the sale or distribution of toxic chemical agents, microorganisms;
  11. Entities engaged in the manufacture, sale, repair or distribution of weapons and munitions, firearms, dual-use goods, military equipment or technology, nuclear material, stealth materials, rocket fuel, propellant, systems, avionics, navigations systems, sensors, lasers, telecommunication equipment, gunpowder and other explosives, fireworks and related goods, provision of armed services, private security services, mercenary services;
  12. Entities or businesses which deal with toxic, hazardous, flammable, and radioactive materials, products and services with varying legal status on a regional basis, mining, oil drilling and refining;
  13. Entities involved in adult entertainment or prostitution, including sale or distribution of pornography and other obscene literature, imagery or other media or materials, sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat or phone conversation features, businesses that primarily provide support services to the adult entertainment industry;
  14. Entities involved in businesses that are prohibited by the applicable law or foreign trade policy of the originating/destination country or the country where the relevant Xflow entity is BaseAudioContext.

Xflow reserves the right to deny services to the following categories of businesses and organizations, if Xflow determines, at its sole discretion, that such business or organization presents any anti-money laundering, terrorist financing, KYC or other compliance risks:

  • Dealers of precious metals or stones, or extractive industries;
  • Shipping and general trading companies operating in free trade zones;
  • Tours and travel companies;
  • Charities or not-for-profits;
  • Non government organizations;
  • Payments to/from and/or customers in high or very high-risk geographies;
  • Payments involving electronic gaming platforms that facilitate the purchase of virtual gaming asset;
  • Payments involving motor vehicle dealers;
  • Payments involving auctions;
  • Payments involving crowdfunding;
  • Payments involving trade financing, BNPL, Lending services, Debt collection agencies;
  • Payments to/from and/or customers in high or very high-risk geographies;
  • Online pharmacies, Tele-medicine or tele-health services;
  • Organizations set up for educational, cultural, social or political purposes;
  • Transactions involving penny stocks or microcap securities;
  • Transactions designed to achieve a particular tax treatment;
  • Transactions involving embassies, consulates and diplomatic missions;
  • Transactions involving economic citizenship or citizenship by investment programs; and/or
  • Transactions involving government scholarship programs where the beneficiary is not an educational institution.