IBAN

Non-permitted activity on SEPA Payments

As part of our ongoing commitment to mitigate the risk of money laundering & terrorist financing., PAA CAPITAL has placed a number of restrictions on the type of industries, activities, and countries we are able to support and service on SEPA payments and IBAN accounts.

Failure to comply with these restrictions can result in delayed payments or rejected payments with continuous breaches leading to account closure.

Non-Permitted Industries

  • Weapons / Military-Grade Security
  • Multi-Level Marketing
  • Pawnbrokers
  • Political Organizations
  • Precious Metals
  • Adult Entertainment
  • Drug paraphernalia
  • Carbon Credits
  • Crypto Currencies
  • Gambling
  • Ponzi / Pyramid Schemes
  • Firms involved in the servicing of illegal goods/services including but not limited to: Counterfeit Goods/trademark infringement, Human Trafficking, Child Labor, Prostitution.

Non-Permitted Client Types

  • Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘Layering.’
  • Shell Banks
  • Unregistered Charities

Non-Permitted Activities

  • Clients are not allowed to use our services to speculate changes in FX
  • Transactions deriving from Crypto Currencies

Permitted Jurisdictions

Permitted Jurisdictions for IBAN Accounts at PAA CAPITAL GROUP 29 January 2019

PAA CAPITAL has restricted the countries that it will service on all IBAN accounts, at both the client level and at the payer level for layered/nested relationships. Refer to the table below for a list of permitted jurisdictions.

Neither our client or our client’s customers (ultimate payer) should be based outside of the below jurisdictions. Any payments with a payer outside of the permitted jurisdiction will be failed automatically by our transaction monitoring system at the point of processing.

Please note that this list will be reviewed and updated periodically.

Åland Islands

Czech Republic

Hong Kong

Latvia

Norway

South Korea

Austria

Denmark

Hungary

Liechtenstein

Poland

Spain

Australia

Estonia

Iceland

Lithuania

Portugal

Sweden

Belgium

Finland

India

Luxembourg

Réunion

Switzerland

Bulgaria

France

Ireland

Malta

Romania

Taiwan

Canada

Germany

Isle of Man

Martinique

Saint Martin (French part)

United Kingdom

Cayman Islands

Gibraltar

Israel

Mayotte

Singapore

United States

China

Greece

Italy

Monaco

Slovakia

Croatia

Guadeloupe

Japan

Netherlands

Slovenia

Cyprus

Guernsey

Jersey

New Zealand

South Africa

IBAN

Eligible clients of the PAA CAPITAL GROUP can request an IBAN account number for receiving their SEPA transfers.

PAA CAPITAL GROUP permitted Client / Source of Funds List, when operating an IBAN account. All other International inward payments must be routed to one of the available PAA CAPITAL segregated client accounts by SWIFT.

• United Kingdom
• Austria
• Belgium
• Bulgaria
• Croatia
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Gibraltar
• Greece
• Hungary
• Ireland
• Italy
• Latvia
• Lithuania
• Luxembourg
• Malta
• Netherlands
• Poland
• Portugal
• Romania
• Slovakia
• Slovenia
• Spain
• Sweden
• Switzerland
• Iceland
• United States
• Canada
• Australia
• New Zealand
• Israel
• Japan
• South Korea
• China
• Hong Kong
• South Africa
• India
• Taiwan
• Norway
• Singapore
• Isle of man
• Cayman Islands
• Jersey