Prohibited and High-Risk Industries & Countries

During the onboarding process and at any time for the duration of an account, platforms and end-users are prohibited if they fall into the following business or industry descriptions:

●  Any product/service or activity prohibited by banking partners, which currently includes:

●  Any product/service considered illegal
●  Counterfeit goods
●  Illegal drugs or drug paraphernalia
●  Foreign government, or any embassy or consulate thereof
●  Illegal or unregulated gambling
●  “Get rich quick” schemes
●  Weapons and/or ammunitions
●  Sexually oriented or pornographic products
●  Online Dating Services (if known & reputable)

The following products and services are restricted by our banking partners and require prior approval from our banking partners before onboarding for use of Synapse product(s):

●  Cryptocurrency Exchange Businesses
●  Auctions/Auction Services and Websites
●  Bail Bond Services
●  Bars/Taverns (not serving food)
●  Credit Restoration/Debt Relief Services
●  Door to Door
●  Flea Markets
●  Modeling Agency
●  Neighborhood Party Sales
●  Resort Land Promotions
●  Talent Booking Agencies
●  Third Party Hotel Reservation Services
●  Vitamin and Supplement Sales
●  Nutraceuticals
●  Nested MSBs/Nested Money Transmitters
●  Bearer Shares

The following products and services have been deemed as high risk by our partner bank. Some of these industries are included in the prohibited/restricted lists above as well and should receive increased scrutiny if onboarded.

●  Short term loans with high interest rates
●  Merchant cash advance
●  Payday Lenders
●  Checking Cashing Institutions
●  Credit Card Schemes
●  Government Grants
●  Home Based Charities
●  Lifetime Guarantees
●  Student Loan Assistance Companies
●  Fantasy Sports
●  Vehicle Sales
●  Firearms/Fireworks Sales
●  Ammunition Sales
●  Surveillance Equipment
●  Pawn Shops
●  Raffle/Sweepstakes
●  “As Seen on TV”
●  Telemarketing
●  Pharmaceutical Sales
●  Tobacco Sales

The following countries have been deemed as high risk by Synapse and our partner banks. Users that are currently in prohibited countries but were on-boarded before the prohibition began should contact compliance for whitelist with additional due diligence.