Prohibited and Restricted Businesses

Last updated: October 2026

This page sets out who Lydiam will not work with, and who needs our written approval before they can be onboarded or introduced to us. It applies to every client, and to every partner and Enterprise firm that introduces or acts for clients.

Our payment and foreign exchange services are provided by Flumen Pay LLC, trading as Lydiam, which is registered as a Money Services Business with FinCEN in the United States (31000332913768) and with FINTRAC in Canada (C10001396). We may update this list at any time, for example when sanctions or the guidance of the Financial Action Task Force (FATF) change.

1. Prohibited countries

We do not open accounts for, or make or receive payments involving, persons or businesses based in, or owned or controlled from:

Belarus
Cuba
Democratic People's Republic of Korea (North Korea)
Iran
Russia
Syria
The Crimea, Kherson, Luhansk, Donetsk and Zaporizhzhia regions of Ukraine

2. Restricted countries: ask us first

We will only consider persons or businesses with a connection to the following countries with our prior written approval:

Afghanistan, Central African Republic, Democratic Republic of Congo, Gaza Strip, Iraq, Lebanon, Libya, Myanmar, Somalia, South Sudan, Sudan, Venezuela and Yemen
Any other country on the FATF lists of high-risk jurisdictions subject to a call for action or under increased monitoring

3. Prohibited industries

Adult entertainment and adult services in any form
Arms and defence involving offensive weapons or unapproved jurisdictions
Unregistered virtual asset exchanges and custodian wallet providers
Unlicensed gambling and iGaming
Informal value transfer systems and unlicensed money services businesses
The illegal sale or distribution of drugs, and cannabis or CBD without a licence
Trafficking of cultural artefacts, wildlife or protected species
Human trafficking, modern slavery and any other illegal activity
Environmental crime
Shell companies with no evident business purpose

4. Restricted industries: ask us first

Licensed arms and defence
Wholesale cash collection, cash couriers and bulk cash dealing
Licensed virtual asset businesses
Extractive sectors, from extraction to wholesale
Money or value transfer businesses and payment service providers
Prepaid card issuers whose card flows pass through Lydiam
Regulated gambling and iGaming
Licensed medicinal cannabis and CBD
Professional sport
Personal holding and investment companies outside our normal private client profile
Trade and export finance facilities
Unregistered charities and foundations, or those registered in jurisdictions without equivalent standards

5. Who else we do not work with

Anyone named on a sanctions list that applies to us or our banking partners
Anyone who cannot complete our checks, or whose owners and controllers we cannot identify
Shell banks, anonymous accounts and companies with bearer shares

6. The UK, the EU and the EEA

Lydiam does not market its services in the United Kingdom, the European Union or the European Economic Area. A business there can only become a client by contacting Lydiam itself through the enquiry form at lydiamgroup.com/contact. Partners and Enterprise firms may not introduce or refer businesses based there.

7. Questions

Some of our payment routes carry extra restrictions. If a business has any link to a country or industry above, or you are unsure, contact us at info@lydiamgroup.com before you apply or introduce it.