Prohibited Policy

1. Scope

This policy applies to all services marketed by Chameleon Money. It outlines restrictions regarding customer onboarding, transactions, and other activities that are enforced by the regulated platform operator. Chameleon Money is a marketing partner only and does not manage onboarding, transactions, or compliance processes.

The regulated platform operator operates under specific international guidelines, including those recommended by the Financial Action Task Force (FATF), as well as regulatory frameworks from multiple jurisdictions. These standards ensure compliance and maintain financial integrity across all jurisdictions in which the platform operates.

2. Prohibited Jurisdictions

2.1 Onboarding Restrictions

The platform prohibits onboarding any customer with ultimate beneficial owners (UBOs), directors, or operations residing in or targeting websites toward the following sanctioned countries: Iran, North Korea, Syria, Cuba, Venezuela, and Russia.

2.2 Transactional Restrictions

The platform does not support transaction activities involving the following jurisdictions, due to regulatory restrictions, international sanctions, or high-risk considerations:

• Afghanistan (AF)

• American Samoa (AS)

• Anguilla (AI)

• Belarus (BY)

• Benin (BJ)

• Bosnia and Herzegovina (BA)

• Burkina Faso (BF)

• Burundi (BI)

• Central African Republic (CF)

• Cote d'Ivoire (CI)

• Cuba (CU)

• Democratic People's Republic of Korea (DPRK) (KP)

• Democratic Republic of Congo (CD)

• Eritrea (ER)

• Eswatini (SZ)

• Fiji (FJ)

• Guam (GU)

• Guinea (GN)

• Guinea-Bissau (GW)

• Haiti (HT)

• Iran (IR)

• Iraq (IQ)

• Kosovo (XK)

• Lebanon (LB)

• Liberia (LR)

• Libya (LY)

• Mali (ML)

• Marshall Islands (MH)

• Mozambique (MZ)

• Myanmar (MM)

• Nicaragua (NI)

• Niger (NE)

• Nigeria (NG)

• Pakistan (PK)

• Palau (PW)

• Palestine (PS)

• Panama (PA)

• Russian Federation (RU)

• Samoa (WS)

• Sierra Leone (SL)

• Somalia (SO)

• South Sudan (SS)

• Sudan (SD)

• Syria (SY)

• Togo (TG)

• Trinidad and Tobago (TT)

• Türkiye (TR)

• Ukraine (UA)

• United States (US)

• United States Minor Outlying Islands (UM)

• Vanuatu (VU)

• Venezuela (VE)

• Virgin Islands, U.S. (VI)

• Western Sahara (EH)

• Yemen (YE)

• Zimbabwe (ZW)

2.3 Jurisdictional Requirements for Customer Categories

Unregulated Businesses: Must be incorporated within accepted jurisdictions and fall within the platform's risk appetite.

Regulated Businesses: Must be incorporated in: United Kingdom (including Gibraltar), European Economic Area (EEA), United States of America, Switzerland, Canada, Australia, New Zealand, Hong Kong, Singapore, Japan, or South Korea.

Regulated entities outside these jurisdictions may only be onboarded if part of an ownership structure including a licensed entity from accepted jurisdictions.

This list is reviewed periodically to ensure compliance with regulatory updates and may be amended accordingly.

3. Prohibited Business Activities

The following categories of businesses and business practices are explicitly prohibited from using the services marketed by Chameleon Money:

• Businesses operating or running Hawala (informal banking system)

• Companies engaged in or providing illegal drugs and/or unlicensed drug-related activity

• Unregulated pharmaceuticals/food supplement companies (nutraceuticals)

• Activities relating to defence and munitions, including dual use

• Adult websites or services with prostitution, and the broadcasting/publication of pornography

• Binary options or unregulated investments

• Companies formed of bearer shares

• Company structures which include only nominee directors (there must always be individual directors)

• Companies dealing in counterfeit goods

• Companies dealing with cultural artefacts, ivory, or other items related to protected species, or with items of archaeological, historical, religious, or rare scientific value

• Companies structured and operating piracy or illegal streaming

• Political/religious organisations engaged in hate speech

• Pyramid schemes/multi-level marketing (MLM) schemes

• Companies dealing in non-electronic funds

• Unregulated institutions that should be regulated

• Shell banks

• Shell companies (a company having no physical presence, no employees, or no commercial activity in its registered jurisdiction)

• 'Get rich quick' schemes (proposal to pay high rates of return over a short period in return for a small investment)

• Unregulated charities

• Banks

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4. Special Requirements for Certain Activities

Certain industries may be subject to enhanced due diligence requirements by the regulated platform operator to ensure compliance with regulatory standards. These include:

4.1 Licensed Gaming and Betting

Subject to valid licensing and regulatory approval in the operating jurisdiction. Gaming and Contract for Difference (CFD) firms may be onboarded but cannot process consumer payouts through the platform.

4.2 Cryptocurrency Services

Restricted to licensed or regulated businesses compliant with local and international regulations. The platform does not provide services to cryptocurrency firms acting on behalf of underlying clients.

4.3 Financial Institutions

The platform does not provide services to Payment Service Providers (PSPs) or cryptocurrency firms as underlying clients. Additionally, the platform does not provide services to financial institutions, money service businesses (MSBs), or payment service providers (PSPs) that wish to engage in correspondence-style relationships involving transactions with or on behalf of their underlying clients, as this would create nested relationships prohibited by regulations. Nested relationships occur when multiple layers of intermediaries are introduced between the platform and the end customer, making it challenging to maintain transparency and comply with anti-money laundering (AML) and counter-terrorist financing (CTF) requirements.

5. Implementation and Enforcement

The regulated platform operator is responsible for all compliance screening, onboarding decisions, and enforcement of these prohibitions. Chameleon Money, as a marketing partner, does not make determinations regarding customer eligibility or conduct compliance reviews.

The regulated platform operator ensures compliance with regulatory standards from multiple jurisdictions, ensuring that promotions, transactions, and operations align with international requirements.

7. Reporting and Compliance

Any suspicious activities or potential violations of this policy must be reported immediately to the regulated platform operator's Compliance Team. The platform operator is committed to cooperating with relevant regulatory authorities to address any compliance-related concerns.

8. Disclaimer

This document is provided for informational purposes only and does not constitute financial, investment, tax, or legal advice. Chameleon Money markets services provided by a regulated platform operator. Users accessing services through Chameleon Money will be subject to the terms, conditions, and policies of the regulated platform operator.

Chameleon Money is a marketing partner and does not provide regulated financial services. All customer onboarding, account management, transaction processing, and compliance activities are provided by the regulated platform operator, not by Chameleon Money.

Last Updated

Last updated: 3 July 2025

This document is reviewed regularly to ensure accuracy and compliance with current regulations and platform policies. Users should check back periodically for updates.