For merchants with cross border exposure, additional assessment is to be conducted regarding their target customer market and destination countries. The list is a guide to countries which are very high risk, are generally unacceptable and, in most cases, Azupay’s position will be NOT to transact with customers that engage with these countries.​

Note:​

• Not all countries on the list are completely prohibited but are on the DFAT & UNSC sanctions list or the FATF list for specific reasons.​
• Sanctions for financing are generally targeting the enrichment of specific entities and the purpose of funds i.e., purchase of weapons hence manual assessment of the remitter is required.​
• However, Azupay’s position is that it will not want to deal with the sanctioned countries from a reputation & risk to the business perspective.​
• Most banks have an automated system which will flag transactions to these countries for manual review and may decline the transaction based on the purpose and full customer profile.​

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🌏 High Risk Countries List