Nium reserves the right to decline services to any organization or individual whose activities are considered prohibited by Nium, illegal, or may cause Nium reputational, regulatory, financial or operational harm. This includes restricting where/who Nium clients can send money to, from or on behalf of. The following categories of businesses and business practices are explicitly prohibited from using the Nium Service or receiving funds to/from Nium clients. Products or services that:
- in any way that breaches any applicable local, national, or international law or regulation, or causes Nium to breach any applicable law or regulation;
- in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;
- for the purpose of harming or attempting to harm minors in any way;
- for anything that is abusive, harmful, or does not comply with our content standards;
- for any unsolicited or unauthorised advertising, promotional material, or any other form of spam;
- to deal in harmful programs such as viruses, spyware, or similar computer code designed to adversely affect the operation of any computer software or hardware;
- in any way that would locally or internationally evade any applicable taxes or facilitate tax evasion. We do not support businesses or transactions which are involved in any of the following categories, such businesses or transactions may be declined.
While this list is representative, it is not exhaustive, and we reserve our right to deny our services to any customers who exceed our risk tolerance
Regulated or illegal products and services
- Adult content: Pornography and other visual content depicting explicitly sexual acts. Services of sexual nature (webcam shows, live chats, prostitution, escorts, etc). Sexually oriented establishments (massage parlors, strip clubs, gentleman’s clubs).
- Alcohol, Tobacco and Firearm related products, including electronic cigarettes
- Drug and drug related products including Cannabis, products containing CBD, any other products or services related to legal marijuana trade.
- Controlled substances or other products that present a risk to consumer safety.
- Drug paraphernalia: Any equipment, product, or material which is intended for making, using, or concealing drugs
- Pharmaceuticals: Nutraceuticals, pseudo-pharmaceuticals, or similar products not approved by the applicable regulatory body. Online pharmacies. Prescription-only pharmaceutical drugs.
- Chemicals. Nuclear Chemicals or related product sales, distribution or related businesses.
- Counterfeit goods: Unauthorised sale of designer and/or brand products. Sale of illegally imported or exported goods.
- Gambling: Lotteries. Fantasy sports. Games of chance. Any type of gambling payments related to Turkey, United States, or Canada.
- Intellectual property, copyright, patent, trademark, trade secret, proprietary rights infringement.
- Products and services which are not legal/meet the regulatory requirement in the jurisdiction they are being offered in or in any country that Nium operates in.
Financial and other professional services
- Companies involved in the exchange or trading of cryptocurrencies, or any other virtual currencies, including payments for the purpose of purchasing cryptocurrencies.
- Unregulated Money service businesses. Regulated payments service activity is only permissible with explicit approval by Nium.
- Investment & Credit Services – Securities brokers; mortgage consulting or debt reduction services; credit counselling or repair; real estate opportunities; lending instruments, crowdfunding, unless explicitly approved Nium and regulated/authorised by relevant authority.
- Others: Shell banks. Platforms allowing the trading and/or exchanging of FX/CFD/options. Superannuation funds. Syndicates. Trusts and trust formation activity.
- Any other financial services operating without a licence/registration where one is required.
- Services that facilitate anonymous payments/financial services.
- Binary options. Factoring. Using the Nium account as an escrow or safeguarding account.
Other restricted activities
- Individuals, entities, or countries subject to international sanctions.
- Weaponry, military and semi-military goods and services.
- Weapons (including weapons of historic significance), military software, or any other goods or services intended for military use.
- Trade of restricted and/or endangered animal species and products derived from them.
- Trade of precious metals and stones
- Multi-level marketing, pyramid schemes, unreasonably high rewards schemes, referral marketing.
- Charities, except: – UNICEF – Prime Minister Relief fund – The International Red Cross. Any other registered and highly reputable charity only upon explicit approval by Nium
- Section 311 of USA Patriot Act designated entities