Qore Finance operates in full compliance with all applicable laws and regulations, including those governing anti-money laundering, counter-terrorism financing, proliferation financing, sanctions, and export controls. We maintain robust policies, procedures and internal controls to uphold these obligations.
There may be occasions where we are unable to offer you a service because the activity falls outside our risk appetite. A list of prohibited activities is set out below.
Prohibited Industries and Activities
- Adult entertainment & pornography
- Any trade in weapons, firearms and ammunitions
- Anonymous and fictitious-named accounts
- Any entity or individual that is subject to any domestic or international sanctions
- Armed forces
- Auction platforms that are not supported by a regulated auction house
- Cannabis Oil (CBD), Marijuana — any business involved in cannabis-related activities
- Money Service Businesses (MSB), including Bureaux de Change, CFD, Foreign exchange firms, Casa de Cambio
- Chemicals
- Counterfeit and/or pirated goods
- Cryptocurrency and distributed ledger technology
- Defence firms
- Drugs and related paraphernalia
- Entities created for the facilitation of tax evasion
- Shell Banks and entities that provide services to Shell Banks
- Unlicensed Financial Institutions and entities that provide services to Unlicensed Financial Institutions and unregulated remittance agents
- E-Wallet firms
- Exchange Houses
- Explosives
- Gambling related platforms, e-casinos, lottery and card games
- Gold, precious stones and gemstones (including rough diamonds)
- Legal entities owned via nominal ownership / bearer shares
- Nightclubs
- Unregulated pharmaceutical firms
- Payroll scheme companies
- Pyramid Selling (also known as Multi-Level Marketing)
- Sales of tobacco, e-cigarettes and e-liquid
- Sale or marketing of binary options
- Time-shares
- Underlying third party customer transactions
- Wine, land & art
- Wildlife trafficking: any involvement in the illegal trade of wildlife
- Human trafficking / escort services
- Sanctions evasion services: businesses or individuals offering services to circumvent international sanctions
- Unregulated charities in conflict zones, particularly those operating in high-risk jurisdictions without robust governance and transparency
Prohibited Countries
- Afghanistan
- Belarus
- Burundi
- Cambodia
- Central African Republic
- Congo
- Congo, Democratic Republic of the
- Côte d’Ivoire
- Cuba
- Equatorial Guinea
- Eritrea
- Guinea
- Guinea-Bissau
- Haiti
- Honduras
- Iran
- Iraq
- Democratic People’s Republic of Korea
- Kyrgyzstan
- Lebanon
- Liberia
- Libya
- Myanmar
- Palestine, State of
- Russian Federation
- Somalia
- South Sudan
- Sudan
- Syrian Arab Republic
- Tajikistan
- Uzbekistan
- Vanuatu
- Venezuela
- Western Sahara
- Yemen
Prohibited Formation Types
- Legal entities with bearer shares
- Shell companies
- Undisclosed nominee structures
- Anonymous trusts
- Offshore International Business Companies (IBCs)
- Foundations with concealed beneficiaries
Prohibited Politically Exposed Persons (PEPs), Their Relatives or Close Associates (RCAs)
- PEPs or RCAs directly linked to confirmed instances of corruption, bribery, or other financial crimes
- PEPs or RCAs from prohibited risk jurisdictions
- Situations in which the source of wealth or funds for the PEP is deemed suspicious
Prohibited Reputational Exposure
- Individuals or entities with prior convictions for financial crimes
- Individuals or entities implicated in severe, non-financial unethical conduct, including but not limited to human rights violations and environmental offences
Sanctions Exposure
- Parties subject to, or linked with, UK, EU, UN, or US sanctions
