Prohibited Activities
As part of our ongoing commitment to mitigate the risk of money laundering and terrorist financing, Reibanq has a number of restrictions on the type of industries, activities, and countries we support and service. Failure to comply with these restrictions can result in delayed payments or rejected payments with continuous breaches leading to account closure.
Non-permitted industries – Global
- Weapons / military-grade security
- Multi-level marketing
- Pawnbrokers
- Political organizations
- Precious metals and stones, including diamond traders
- Unauthorized re-sale of luxury goods – including watch traders
- Adult entertainment
- Drug paraphernalia
- CBD and related products
- Carbon credits, including carbon credits traders
- Cryptoassets
- Gambling
- Ponzi / pyramid schemes
- Firms involved in the servicing of illegal goods/services including but not limited to: counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.
- Mining and extraction
- Scrap metal traders
- Energy traders
- Speculative trading
Non-permitted industries – United States of America
- Chemicals
- FDA classified medical devices
- Medications or prescription drugs
- Alcohol [MCC: 5813 – Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques]
- Tobacco [MCC: 5993 – Cigar Stores and Stands]
- Dietary supplements
- Seeds or plants
- Regulated financial services
- Outbound telemarketing
Non-permitted client types
- Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’
- Shell banks
- Unregistered charities
- Clients are not allowed to use our services to speculate changes in FX
- Transactions deriving from crypto currencies
- Remittances funded cash