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Prohibited Industries & Countries

 

Prohibited Industries

Surge Africa follows a Risk Based Assessment when formulating and executing its KYC,

AML and CFT policies.

For the avoidance of doubt, Surge Africa sees its social mission as furthering financial

inclusion, and as such, the following types of customers are prohibited:

• Anonymous name transaction/ Non-account customers

• Shell and shelf banks / financial institutions

• Crypto currency business (Virtual currencies)

• Gambling (including betting) business

• Adult industry (and related) business (Red light business / Adult

• entertainment)

• Offshore customers

• Unlicensed Money Transmitters

• Correspondent Banks

• Arms, defence, and/or procurement related thereto

• Military/Civilian Nuclear or Atomic power

• Extractive industries

• Precious metals and stones

• Unregulated charities

• Marijuana

• Embassies/Consulates

• Gambling

• Lottery

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Prohibited Countries

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The list of Prohibited countries includes the following jurisdictions:

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• Afghanistan

• Algeria

• Bangladesh

• Cambodia

• Central African Republic

• Cuba

• Democratic Republic of the Congo

• Guyana

• Holy See

• Iran

• Iraq

• Korea, North

• Laos

• Lebanon

• Libya

• Myanmar

• Nicaragua

• Pakistan

• Palestine

• Qatar

• Somalia

• Sri Lanka

• South Sudan

• Sudan

• Syria

• Ukraine areas of Donetsk, Lugansk and Crimea

• Vanuatu

• Venezuela

• Vietnam

• Yemen

• Zimbabwe

• Tunisia

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