Updated as of 27/03/2024

We have defined a financial crime risk appetite that delineates the boundaries within which Yapily Connect operates. Below, we outline the prohibited and high-risk industries, setting expectations for ourselves, our clients and their clients.

“Prohibited” industries or clients denote those we do not engage with—neither our clients nor their clients can fall within this list. “Restricted” indicates higher-risk sectors where we conduct additional due diligence, involving further inquiries from our compliance team and more engagement to ensure alignment with our standards.

This list is not exhaustive, and additional considerations may apply as per our ongoing risk assessments and compliance protocols.

PROHIBITED INDUSTRIES

Sector
Sanctioned entities or individuals (United Nations, United States of America OFAC, European Union, Republic of Lithuania and United Kingdom HMT sanctions lists)
Companies involved in illegal activity (E.g., sale of illegal drugs, counterfeit products, companies operating without appropriate licences or permissions (e.g. financial firms, gambling, crypto asset service providers; for example, FCA Warning list of unauthorised firms, Bank of Lithuania List of entities without the right to provide financial (incl. investment) services in Lithuania,Gaming Authority List of entities without the right to provide gambling services in Lithuania
Companies registered in Iran, Myanmar or Democratic People’s Republic of Korea (DPRK), Russia or having significant links to these jurisdictions
Unreasonably complex or opaque ownership structures
Shell companies

RESTRICTED INDUSTRIES

Sector
Adult content services
Crypto-asset service providers (e.g exchanges, custodian wallet providers)
Forex brokerages
Lotteries and gambling entities
Non-profit organisations, Charities
Travel agencies
Trade in Health Care products
Pharmaceutical businesses
Trade in tobacco and alcohol products
Trade in ferrous, non-ferrous and precious metals, stones and jewellery
Trade in art, cultural artefacts and other items of archeological, historical, cultural and religious importance, or of rare scientific value, ivory and protected species.
Relations to high risk jurisdictions EC high risk third countries; FATF Grey list; EU list of non-cooperative jurisdictions for tax purposes; Countries with the highest Global Terrorism Index