Prohibited Businesses
Last updated: April 28, 2024
ShaBaas prohibits the use of its services for following industry, even where the specific industry is lawful in Australia or overseas jurisdiction.
Prohibited Industries List
- Binary Options trading
- Domestic/Foreign unregistered Charities
- Crypto-Currency
- Vaping equipment
- Dating and Escort Services, Internet adult digital content sites and providers (MCC 7273)
- Shell Banks
- Online Casino’s
- Unincorporated Associations
- Unlicensed Financial Advisors
- Unnecessarily complex ownership structures (e.g., nominee or Bearer share corporations)
- Products & services invoking or supporting racism, violence, abuse discrimination, hatred, terrorism, paedophilia or other immoral activity
- Counterfeit/Imitation items but not limited to currency, coins, fake credentials & academic papers, stamps, counterfeiting equipment, trademark infringement items, goods infringing on 3rd party intellectual property rights
- Internet / Mail Order Pharmacies
- Including sale and shipment of prescribed medication, male or female sexual supplements or products
- Pawn brokers, non-retail pawn shops
- Payday Lenders
- Lottery Ticket Sellers
Restricted Businesses
ShaBaas restricts the use of its services for following industry, even where the specific industry is lawful in Australia or overseas jurisdiction unless you have received prior written approval from us.
In case your business falls into one of the restricted categories, please contact us. If we do provide approval, the approval will be specific to your business and would vary on a case to case basic and may be revoked or altered at any time as per terms of our Services Agreement.
Restricted Industries List
- High Risk Industries List
- High Risk Merchant Type / Industry
- Buy Now Pay Later (within any Industry)
- Business Services (not classified) e.g., Trusts
- Charities, Social Services
- Cigar / Online Tobacco Seller, Incl. “e-cigarette”
- Cyberlocker merchants
- Games of skill such as daily fantasy sports gaming where consumers pay a fee to enter, and the outcome of the game is determined by skill instead of luck
- Drugs, Drug Proprietors, and Druggist’s Sundries – incl. non-prescribed over the counter (OTC) products, e.g., vitamins, herbs and nutrients
- Gambling establishments including internet gambling – placing, receiving or transmitting a bet/wager
- The Client MUST be registered and adhere to applicable regulations under the Gambling Sector (chapter 10) of the AML/CTF Rules & manage their risk exposure if they on-board gambling establishments.
- Gift Card Merchants
- Invoice management business e.g., processing and collection
- High Risk Securities - Merchants that buy, sell, and broker high risk securities e.g., options
- Miscellaneous Personal Services – Not elsewhere classifies
- Payday Lenders (Licensed)
- Pubs and Clubs – incl. Membership Clubs – e.g., Sports, Recreation, Golf Courses, Bars, Taverns, Cocktail lounges, Night clubs
- Wire Transfer / Money Order
- Non-Financial Institution Money Transfer
- Where the Client is a Wire Transfer/Money Order / Non-Financial Institution Money Transfer provider it MUST be registered with AUSTRAC and implement an AML/CTF program
- Skill games Merchants
- Direct Marketing—Travel-Related Arrangement Services
- Direct Marketing—Outbound Telemarketing Merchant
- Direct Marketing—Inbound Teleservices Merchant (Adult content and services such as website subscriptions and video streaming)
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