Activity Risk Assessment – Explicative Note

Activities Risk Assessment

Prohibited activities

BANKCHAIN will not deal with clients who are involved in any unlawful or fraudulent activities.

Moreover, by policy, BANKCHAIN prohibits the onboarding of clients who are active in the following areas:

Industry or activity sector

Example of underlying activities

Nuclear industry

§     Uranium, Thorium and Plutonium extraction

§     Transformation of nuclear material

Any activity linked to weapons, firearms and ammunition

§     Manufacturing 

§     Trade, import-export

Any activity linked to explosives* or other explosive substances

* For example: C4, dynamite, TNT, gunpowder, detonators, mines, RDX, Torpex, Tovex, Grenades, etc.

§     Manufacturing

§     Trade, import-export


Military combat vehicles manufacturing

§     Battle tanks

§     Infantry combat vehicles

§     Military combat aircraft or ships

§     Armored combat support vehicles

Gambling industry

§     Casinos 

§     Sports, races and e-sports betting

§     Online gambling

Gaming industry

           Gaming loot boxes

Sex industry


§     Pornography, diffusion and production of sexthemed visual content

§     Phone sex and related sexual services

§     Prostitution, escort agencies and assimilated sex workers organization

§     Massage parlors


           Surrogacy services

Precious metals* industry

* For example: Gold, Silver, Platinum, Palladium, Ruthenium, Rhodium,

Iridium, Osmium, Rhenium, Indium

§     Mining, extraction

§     Production

Precious and high-value gemstones* industry

* For example: Diamond, Ruby, Sapphire, Emerald, Tanzanite, Opal, Beryl, Musgravite, Alexandrite, Jadeite etc.

§     Mining, extraction

§     Sale, import-export of the gross material (e.g.

rough diamonds)

Activities against animal welfare

§     Animal testing for cosmetic purposes

§     Trade of skins, ivory and other parts of

protected animals

Lead generation and call center activities

§     Leads generation

§     Leads sale

§     Outbound telemarketing

§     Centralized office used for receiving or transmitting a large volume of enquiries by telephone (Call center)

Soft drugs (legalized or tolerated)

   Trade of soft drugs (e.g. marijuana in coffeeshops in Holland) 

Industry or activity sector

Example of underlying activities


           Trusts, fiducies and similar arrangements

Certain activities in the cryptocurrency sector

   Any activity linked to anonymous cryptocurrencies* or cryptocurrencies favoring anonymity of their owner


Certain activities in the banking sector

§     Shell banks

§     Offshore banks

§     Bank authorizing nesting accounts or downstream correspondent clearing

§     Banks offering “passing-through” account services

§     Bearer security issuers

§     Online payday lenders

Other controversial activities

§     Manufacturing, sale or distribution of any prohibited or illegal good or service or an activity that requires a governmental license where the client lacks such a license

§     Manufacturing, sale or distribution of any material that promotes violence or hatred

§     Manufacturing, sale or distribution of goods or services that violate the intellectual property rights of a third party

§     Ponzi-schemes or pyramid selling


While this list is representative, it is not exhaustive, and BANKCHAIN reserves its right to deny its services to any client who exceeds our risk appetite.

If you are uncertain as to whether an activity sector is prohibited, or if you have any questions about the application of this activity risk matrix, please contact the Compliance Department at

Furthermore, if you notice any legal activity that is not described here that may pose a reputational risk to BANKCHAIN, please inform the Compliance department at


High risk activities

Additionally, BANKCHAIN acknowledges that some sectors are more likely to be associated with a higher risk of money laundering or terrorist financing or fraud. For clients operating in these sectors, BANKCHAIN will apply a higher risk score.

Industry or activity sector

Example of underlying activities

Cash-intensive sectors

§     Restaurants, fast foods, take away

§     Hotels, hostels, resorts

§     Nightclubs

§     Bars, pubs, cafés, tea/coffee shops, playing rooms

§     Taxis

§     Beauty institutes and parlors

§     Spas

§     Hairdressing

§     Laundry activity

Real Estate sector

§     Real estate promotion

§     Real estate construction

§     Real estate agencies

Construction sector

§     Manufacture and sale of construction machinery and tools

§     Road, railways and telecom networks building

Art industry

§     Artists

§     Galleries

Pharmaceutical industry

§     Pharmaceuticals manufacturing

§     Pharmaceuticals trade, import-export

§     Sale or distribution of prescription


Covid-19 related services

§     Manufacture and trade of masks and equipment; 

§     Manufacture and trade of personal-use tests

Chemical industry

§     Trade, import-export

§     Distribution

Raw materials* industry

*metals, gas, other minerals, hydrocarbons

§     Mining

§     Trade, import-export

Petroleum industry

§     Extracting

§     Trade, import-export

Tobacco industry

§     Manufacturing

§     Trade, import-export

§     E-liquid, CBD

§     CBD and cannabis derivative shops 

§     CBD and cannabis derivative import-export

Travel industry


            Travel and tourism agencies, tour operators

Luxury industry

§     Luxury resorts, hotels

§     Manufacture, sale, import-export of luxury



Industry or activity sector

Example of underlying activities


*For example: leathers, furs, jewelry, watches, yachts, high end cosmetics, perfumes, high-end spirits, designers’ creations, haute couture, etc.

Horse breeding

           Horse or other equines breeding

Electronic sector

   Manufacture, sale, repair of electronic components, including telephones, computers and household appliances 

IT sector

§     IT development, programming

§     IT consulting, audit

Vehicles sector

§     Trading second hands vehicles

§     Vehicle repairing

§     Vehicles rental

Aeronautical and space construction

           Aerospace manufacturers

Defense activities


 Administration, supervision and management of national defense activities  Military logistics

Physical security sector

§     Physical surveillance with security guards

§     Video surveillance and assimilated

§     Drones

3D Printing

§     Trade of 3D printers

§     3D printing services

§     3D metal printing

§     Industrial 3D printing

Renewable energies* sector

*Solar, biomass, wind, water, wood, geothermal, ocean tides

§     Patent distribution

§     Renewable energy transport and distribution

Wastes treatment activities

§     Collection, recycling and treatment of waste, wreck

§     Wholesale and sorting of wastes and debris

Cleaning and facility services industry

§     Cleaning services        Facilities services

§     Industrial and domestic cleaning

Governmental activities

§     Embassies, Consulates

§     Diplomatic missions

Holding companies

           Holding companies

Legal services and accounting activities


§     Domiciliation companies

§     Lawyers and legal counsels

§     Attorneys

§     Notaries

Non-profit activities


§     Charities

§     Private foundations

Financial sector

§     Banks and neo-banks: retail & business, private, investment

§     Payment institutions

§     Investment companies, pension funds               Insurance

Cryptocurrency sector


   Any activity linked to cryptocurrencies that is not prohibited*

*Refer to the cryptocurrency policy


If you are uncertain as to whether an activity sector is high risk, or if you have any questions about the application of this activity risk matrix, please contact the Compliance Department at