Prohibited Businesses & Sanctioned Jurisdictions
Last Updated: December 1, 2025
Our Commitment to Compliance
Unicorn Currencies operates as a FINTRAC-registered Payment Service Provider (PSP) with RPAA authorization from the Bank of Canada. We deliver cross-border payment services through a network of FCA-authorized Electronic Money Institutions and Payment Service Providers.
We maintain strict adherence to international sanctions regimes, anti-money laundering regulations, and counter-terrorist financing requirements across all jurisdictions in which we operate, in partnership with our regulated payment infrastructure providers.
This policy outlines the categories of businesses and jurisdictions with which we cannot conduct business. These restrictions protect our clients, our platform, and the integrity of the global financial system.
Prohibited Business Categories
Unicorn Currencies does not provide services to businesses operating in or facilitating the following sectors:
Financial Crime & Illegal Activities
Money services businesses (MSBs) that are unlicensed or operating without proper regulatory authorization
Cryptocurrency exchanges, mixers, tumblers, or unlicensed digital asset platforms
Businesses involved in money laundering, terrorist financing, or sanctions evasion
Shell banks or banks with no physical presence in any jurisdiction
Entities engaged in fraud, Ponzi schemes, pyramid schemes, or other deceptive practices
Counterfeit goods manufacturers or distributors
Unlicensed payment processors or payment facilitators
Adult Content & Services
Pornography production, distribution, or hosting platforms
Adult entertainment venues or escort services
Dating services with adult or escort components
Any business involving sexual content or services
Gambling & Gaming
Online gambling platforms, casinos, or betting operations (licensed or unlicensed)
Fantasy sports platforms involving real-money wagering
Lottery services or sweepstakes with cash prizes
Skill-gaming platforms that involve monetary stakes
Controlled Substances & Paraphernalia
Cannabis cultivation, distribution, or retail (including CBD products where legally ambiguous)
Recreational marijuana businesses in any jurisdiction
Drug paraphernalia manufacturing or sales
Unlicensed pharmaceutical distribution or compounding
Businesses selling psychoactive substances or designer drugs
Weapons, Explosives & Dangerous Materials
Firearms, ammunition, or weapons manufacturers and dealers
Military equipment or defense contractors (excluding approved government contracts)
Explosives, fireworks, or incendiary device manufacturers
Chemical or biological weapons components
3D-printed weapon file distribution or related services
High-Risk Financial Services
Payday lenders or high-interest short-term lending operations
Pawn shops or title loan businesses
Check cashing services without proper licensing
Debt collection agencies engaged in aggressive or illegal practices
Credit repair services making false claims
Multi-level marketing (MLM) businesses with pyramid characteristics
Tobacco & Vaping
Tobacco manufacturers, distributors, or retailers
E-cigarette and vaping product companies
Smokeless tobacco or nicotine product manufacturers
Pseudo-Pharmaceuticals & Unregulated Health Products
Unlicensed online pharmacies or prescription drug sellers
Businesses selling unapproved medical devices or treatments
Stem cell therapy providers without proper medical authorization
Companies making unsubstantiated health claims
Intellectual Property Infringement
Businesses selling pirated software, movies, music, or digital content
Counterfeit luxury goods manufacturers or distributors
Patent or trademark infringing operations
High-Risk Merchant Categories
Telemarketing or outbound sales operations with high chargeback rates
Get-rich-quick schemes or business opportunity scams
Pseudo-religious or cult organizations engaged in financial exploitation
Businesses with excessive consumer complaints or regulatory actions
Sanctioned Countries & Jurisdictions
Unicorn Currencies complies with comprehensive sanctions programs administered by:
Office of Foreign Assets Control (OFAC) - United States
Office of Financial Sanctions Implementation (OFSI) - United Kingdom
Global Affairs Canada - Canadian Sanctions
European Union Sanctions
United Nations Security Council Sanctions
Comprehensively Sanctioned Jurisdictions
We do not conduct business with individuals, entities, or businesses located in or transacting with the following jurisdictions:
Cuba
Iran
North Korea (Democratic People's Republic of Korea)
Syria
Russia - Comprehensive financial restrictions including SWIFT disconnection for major banks
Belarus - Targeted sanctions due to support for Russian military actions
Crimea, Donetsk, and Luhansk regions of Ukraine - Illegally annexed territories
High-Risk & Non-Cooperative Jurisdictions
The following jurisdictions are subject to enhanced due diligence, and in most cases, we cannot provide services:
Afghanistan - Taliban-controlled territory; comprehensive restrictions
Myanmar (Burma) - Military junta sanctions
Venezuela - Government and petroleum sector sanctions
Yemen - Conflict zone with limited financial infrastructure
Zimbabwe - Targeted sanctions on government officials and entities
Sudan - Limited sanctions; enhanced due diligence required
Somalia - Conflict zone; arms embargo
Libya - Conflict zone; asset freezes on certain entities
Lebanon - Enhanced due diligence due to Hezbollah financing risks
Iraq - Enhanced due diligence; limited to specific sectors
FATF Grey and Blacklisted Jurisdictions
We apply enhanced due diligence or restrictions to jurisdictions identified by the Financial Action Task Force (FATF) as having strategic AML/CFT deficiencies, including but not limited to:
Democratic Republic of Congo
Mozambique
Tanzania
Nigeria (enhanced monitoring)
South Africa (enhanced monitoring)
United Arab Emirates (enhanced monitoring)
Pakistan (recently removed but under observation)
Panama (enhanced due diligence)
Note: This list is dynamic and updated regularly based on FATF assessments.
Tax Havens & Offshore Financial Centers
While not comprehensively prohibited, the following jurisdictions require enhanced beneficial ownership verification and source of funds documentation:
British Virgin Islands
Cayman Islands
Seychelles
Marshall Islands
Vanuatu
Belize
Restricted Currencies
Unicorn Currencies does not facilitate transactions in the following currencies due to sanctions, convertibility issues, or regulatory restrictions:
Iranian Rial (IRR)
North Korean Won (KPW)
Syrian Pound (SYP)
Russian Ruble (RUB) - Restricted due to SWIFT disconnection and sanctions
Belarusian Ruble (BYN)
Venezuelan Bolívar (VES)
Cuban Peso (CUP) / Cuban Convertible Peso (CUC)
Crimean Ruble (unrecognized currency)
Afghan Afghani (AFN) - Limited support due to Taliban control
Designated Individuals & Entities
Unicorn Currencies screens all clients, beneficial owners, directors, and transaction parties against:
OFAC Specially Designated Nationals (SDN) List
UK HM Treasury Consolidated List of Financial Sanctions Targets
Canadian Consolidated Autonomous Sanctions List
EU Consolidated Sanctions List
UN Security Council Consolidated List
Interpol and national law enforcement watch lists
Politically Exposed Persons (PEP) databases
Any match or potential match results in automatic transaction blocking and investigation.
Enhanced Due Diligence Triggers
Even for businesses not explicitly prohibited, the following circumstances trigger enhanced due diligence and may result in service denial:
Beneficial ownership structures involving sanctioned jurisdictions
Transactions routed through high-risk correspondent banks
Unclear or inconsistent business models relative to transaction patterns
Newly formed entities without established trading history (less than 12 months)
Frequent changes in ownership or business structure
Transactions inconsistent with stated business purpose
Unwillingness to provide source of funds documentation
Use of nested accounts or multiple intermediaries without clear business justification
Compliance Monitoring & Updates
This policy is reviewed and updated quarterly or immediately upon changes to sanctions regimes. Our compliance team monitors:
OFAC, OFSI, and Global Affairs Canada sanctions updates (daily)
FATF public statements and grey/blacklist modifications (monthly)
Regulatory guidance from FINTRAC, FCA, and FinCEN (ongoing)
Geopolitical developments affecting sanctions compliance (real-time)
What This Means for Your Business
If your business operates exclusively in legitimate import/export trade, manufacturing, professional services, technology, or other transparent commercial sectors in non-sanctioned jurisdictions, these restrictions will not affect you.
During onboarding, our compliance team will verify:
Your business operates in a permitted sector
No beneficial owners, directors, or transaction counterparties are sanctioned individuals
Your transaction patterns align with your stated business model
All currencies and jurisdictions involved in your transactions are permissible
Questions or Clarifications?
If you are unsure whether your business falls within our acceptable use parameters, please contact our Compliance Team before applying:
Email: compliance@unicorncurrencies.com
Phone: +44 20 8064 0818
We aim to respond to eligibility inquiries within 48 hours.
Unicorn Currencies is committed to the highest standards of regulatory compliance and financial crime prevention. These restrictions are non-negotiable and are designed to protect our clients, our platform, and the integrity of the global financial system.
Regulatory Registrations:
FINTRAC Registration Number: C100000159
Bank of Canada RPAA Authorized
Payment Infrastructure: Services delivered through FCA-authorized Electronic Money Institutions and Payment Service Providers across Canada-UK-EU trade corridors.