This map shows where your business stands based on geographic and operational factors — helping you assess compliance and plan accordingly.

Level of Risk by Countries

Below is the list of countries separated in groups by risk according to our internal policies and procedures.

Businesses not Accepted as Clients

Cardaq does not accept the following group of clients or payment flows to of from:

• Groups, legal entities, bodies, and similar covered by UN resolutions and EU acts on financial sanctions;

• Groups, legal entities, bodies, and similar which have been sanctioned for major offences irrespective of when the client was sanctioned and the jurisdictions in which it was sanctioned;

• Businesses domiciled or Cardaq Limited in jurisdictions designated non-cooperative by FATF;

• Shell companies (a company with no physical presence involving effective decision-making, operations or assets other than cash or equivalents of cash);

• Shell banks (a bank, which is based in a country in which it has no physical presence involving meaningful deci-sion-making and management and which is not officially connected to a regulated financial group);]

• Bearer share corporations;

• Unregistered charities;

• Holding companies of private individuals;

• Investment companies;

• Entity not holding appropriate licenses under applicable law in the countries or territories where they are estab- lished or providing services into;

• FX speculation activities (as outside of Cardaq capabilities);

• Flows not related to commercial transactions.

Cardaq does not accept the following types of payment flow and cannot accept clients involved in the following industries:

• Issuing, buying or selling virtual currencies/cryptocurrencies;

• Precious metals and stones;

• Private-to-private money remittance involving cash;

• Sales involving weapons, ammunition and defence equipment;

• Child pornography, escort services, and sale and/or advertising of sexual services;

• Bidding fee auctions (penny auctions); and

• Second hand vehicles.

In addition to the above, Cardaq Limited does not accept private individuals as clients.

High–Risk Merchant Category Code Examples

Level of Risk by Businesses

Below is the list of businesses separated in groups by risk according to our internal policies and procedures.