Virtual account restrictions
To uphold regulatory standards and risk management protocols, the creation or issuance of Virtual Accounts is strictly prohibited for the following categories:
- Money Service Businesses (MSBs)
- Money Service Operators (MSOs)
- Licensed Financial Institutions (FIs)
- Cryptocurrency exchanges or trading platforms
- Entities domiciled in jurisdictions or engaged in industries classified as prohibited or high-risk
This policy is implemented to ensure compliance with applicable legal, regulatory, and internal risk frameworks. Applications from such entities will be automatically declined. Clients and partners are expected to perform due diligence to ensure adherence to this policy before initiating any Virtual Account requests.
This provision is enforced to ensure adherence to regulatory requirements and to maintain the integrity of financial transactions. The Register of Prohibited and High-Risk Countries can be referenced via the provided hyperlink here and should be used as a primary source for identifying restricted jurisdictions.
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