MCY prohibited activities and countries

As a service provider, it is crucial to adhere to international regulations and compliance standards. Therefore, we have established strict guidelines to ensure the security and legality of our services. Our Multicurrency Virtual Account (MCY) solution is designed to facilitate seamless transactions across multiple currencies; however, to maintain the integrity and trustworthiness of our platform, certain activities and countries are prohibited from accessing our services.

We are committed to providing a secure and compliant financial environment. This involves preventing illicit activities such as money laundering, terrorist financing, and fraud. To this end, we continuously monitor and update our policies in accordance with global regulatory frameworks and best practices.

Prohibited Activities

The following activities are not allowed using our MCY accounts:

Anonymous accountsCasinos/Gambling industry entities that do not have proper licence or are licensed outside of
EEA
Private BankingSanctioned persons and businesses, as well as where the sanction is very high
Downstream correspondent bankingMerchants included in Visa and MasterCard blacklists.
Companies engaged in pharmacy/food supplementsCompanies which business line consists of payment services, crypto exchange and other activities that may be subject to ""nesting""
CashCompanies with incorporation form LP/LLP
Companies registered in Offshore Business Centres/tax havensArms, defence, military, atomic power
CharitiesOther entities whose activity and fund flow have lack of economic meaning (eg: suspected shell companies)
CFDEntities that business line consists of trading with Cannabis/ CBDs
Bestiality, Rape, PornographyForex
Non-Government OrganizationsSynthetic stimulants
Trusts and similar arrangmentsIllegal Drugs; Illegal Sale of Prescription Drugs
Multi-level MarketingUnlicensed service providers
Arms tradeCrowdfunding, ICO’s (Initial Coin Offering), IEO’s (Initial Exchange Offering), STO’s (Security Token Offering)

High-risks Activities

In addition to prohibited activities, certain high risk activities are subject to enhanced scrutiny and may not be eligible for MCY accounts:

Privacy coinsLottery
GamblingMulti-level marketing
"Providing services to Customers that are banks, payment service providers or other types of
financial institutions."

Restricted Countries

Due to regulatory and compliance requirements, the Fincra MCY Account Product is not available for users in the following countries:

AfghanistanAlbaniaAmerican
SamoaAnguillaAntigua and Barbuda
BahamasArubaBelarus
BermudaBurkina FasoBarbados
BurundiCambodiaCayman Islands
Central African RepublicCongoDemocratic
Republic of the
Cook Islands
CubaCuraçaoDominica
FijiGuamGuinea
Guinea-BissauHaitiIran
IraqJamaicaJordan
Korea (Democratic People's Republic of Korea)LibyaMali
Marshall IslandsMoroccoMyanmar (Burma)
NicaraguaPakistanPalau
PalestinePanamaPhilippines
Russian FederationSaint Kitts and NevisSaint Lucia
Saint Vincent and the
Grenadines
SamoaSenegal
SeychellesSomaliaSouth Sudan
SudanSyrian Arab RepublicTrinidad and Tobago
Turks and Caicos IslandsUgandaVanuatu
Venezuela (Bolivarian Republic of Venezuela)Virgin Islands (British)Virgin Islands (U.S.)
Yemen

By restricting access to our services in these countries and prohibiting certain activities, we ensure that our platform remains safe, secure, and compliant with global financial standards.

If you have any questions or need further information, please contact our support team.