Prohibited Countries and Industries

Version 1.0 - Effective Date: 25th May 2025 - Last Updated: May 2025

Prohibited Countries…

As of 24th April 2025, clients with a primary business location in the below countries or jurisdictions do not qualify for Jenzy’s service:

(A primary business location means a main location or headquarters where the central operations of a business are carried out or where its top management and key administrative functions are located.)

• Afghanistan

• Bangladesh

• Belarus

• Bosnia and Herzegovina

• Burundi

• Central African Republic

• Cuba

• Croatia

• Crimea

• Democratic Republic of Congo

• Democratic People’s Republic of Korea (North Korea)

• Donetsk People's Republic (DNR)

• Eritrea

• Guinea

• Guinea-Bissau

• Kosovo

• Iran

• Iraq

• Lebanon

• Luhansk People's Republic (LNR)

• Libya

• Macedonia

• Mali

• Montenegro

• Myanmar

• Nicaragua

• Republic of the Congo

• Russian Federation

• Serbia

• Slovenia

• Sudan

• South Sudan

• Somalia

• Syria

• Ukraine

• Yemen

• Venezuela

• Zimbabwe

• Zaporizhzhia Region

Prohibited Industries…

As of 24th April 2025, the below business types are NOT supported by Jenzy due to heightened risk, incompatibility with our banking partners or undesirable brand association:

• Bearer Share Corporations

• Pornography

• Escort Services and Sale and/or Advertising of Sexual Services

• Bonded Warehouses

• "Cash Intensive Business (e.g., Import of Second-Hand Vehicles and/or Vehicle Parts in HR Scenarios, laundromats, pawn shops)"

• Unregistered Charities

• Convenience Stores

• Crowdfunding

• Defence and Weapons

• Development Aid

• Embassies

• Nuclear/Military Energy

• Gambling and/or Gaming (Illegal)

• Lobbying

• Pressure Groups

• Think Tanks

• Sanctioned Businesses/Companies

• Shell Companies

• Cannabis and Related Products/Services

Monitored Transactions and Industries…

As of 24th April 2025, the below business types will be monitored for potential suspicious activity. Jenzy will investigate and may not support the following types of transactions:

• Payments that do not appear to have a commercial rationale.

• Payments that appear to intermingle both corporate and personal funds.

• Payments between offshore jurisdictions.

• Payments between entities that appear to have the same beneficial ownership.

• Payments between jurisdictions that do not have an established commercial trade relationship between them.

• Payments that appear to be related to entities with Bearer Share Ownership (bearer shares are a type of holding structure through which the possession of physical share certificates represents ownership).

• Payments that appear to be related to Shell Companies (entities that do not have active business operations, employees, and/or significant assets). Shell companies may be formed in a wide array of countries including the UK and US but are often seen primarily to be "offshore" companies. Beneficial owners of shell companies tend not to be residents in the country where the company was formed nor do they maintain genuine ties to that country.

• Payments on behalf of Private Banking Clients or Wealth Management Entities, High-Net Worth and Ultra High-Net Worth Individuals and Family Offices.

• Payments involving Citizenship by Investment schemes regardless of the country.

Monitored Industries…

As of 24th April 2025, the below business types will be monitored for potential suspicious activity. Jenzy will investigate and may not support the following types of businesses…

Law firms, accountancy firms or other types of professional intermediaries such as eligible introducers or investment advisors that may handle client money.

• Companies dealing in precious stones or precious metals.

• Cryptocurrency companies and exchanges.

• Companies involved in the buying and selling of luxury goods involving high-end jewelry, automobiles, boats (yachts), airplanes and/or art.

• Clients with complex beneficial ownership structures including partnerships, trusts, nominee directors or shareholders.

• Politically Exposed Persons (PEPs), including those involved in corporate entities or international business corporations.

Banned List

As of 24th April 2025, Jenzy will deny onboarding any client who if they meet the criteria below:

• Individuals, entities or countries named on any sanctions lists such as OFAC, EU, UN, and UK HMT or country-specific sanctions lists.