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 |
| Mini-bond issuance (UK) |
| 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. |
| Companies registered in 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 |