On this page you’ll find all the information you need to know about the products and services we offer. Different terms and conditions may apply depending on which country you’re based.
1. Purpose and scope
Juni Technology AB is a Swedish fintech company, with our registered address at Masthamnsgatan 21, 413 28 Gothenburg, Sweden. Licensed and registered as an electronic money institution with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) with the authority to issue electronic money (“e-money”) and provide payment services (License no: 64025) to customers in the EU/EEA. For UK customers Payment Card Solutions (UK) Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 930619).
For detailed information about our regulated authorities, please see our Imprint page.
The purpose of this Risk Appetite document is to outline Juni’s risk tolerance and the guiding principles governing money laundering and terrorist financing risk identification, measurement, reporting management and monitoring, as required by applicable laws. As a general principle, Juni will not onboard customers who are carrying out businesses or activities that are illegal, conducted in absence of required licenses or permission or present an excessive reputational risk for Juni and our partners.
2. Prohibited activities and additional requirements
We won’t let you open or hold an account with us if you or the company carry out any sort of business or activity within the following areas. We will do our best to keep this list up to date. Please note that, as legislation, international sanctions or embargoes and card scheme rules change quickly, this list may need to be updated immediately and without prior notice.
2.1 Prohibited business activities, segments and locations
- Countries, individuals, groups, legal bodies, or similar, subject to international sanctions or embargoes, in particular as issued by the HM Treasury (UK), the European Union, the United Nations or the US Office of Foreign Assets Control, including the List of Specially Designated Nationals and Blocked Persons,
- unregulated financial, legal or accounting services (where licensing is required) or unlicensed FX brokers,
- cryptocurrency or other virtual currencies and mining of such, crypto asset firms (i.e. firms engaged in exchange services between virtual currencies and fiat currencies),
- shell companies or shell banks (banks based in countries where they have no physical presence for decision-making and management functions, and which are not typically connected to wider regulated financial groups),
- unregulated or offshore holding/investment companies involved in managing or investing own- or third-party funds or holding companies of private individuals,
- debt restructuring, credit repair, debt settlement, providing credit or debt collections (unless approved by Juni),
- “non-standard” or “non transparent” activities – those carried out through special-purpose or assimilated legal entities (e.g., special purpose vehicles or structures) or in jurisdictions that impede transparency or do not meet international banking standards,
- bearer share corporations and companies, remittances funded in cash, or; any involvement in the sale or marketing of binary options, fourth party payment and multi-layered MSB arrangements,
- Bidding fee auctions, penny auctions, or any type of all-pay auction in which all participants must pay a non-refundable fee to place each small incremental bid;
- activities aimed at circumventing security controls (software, hardware),
- Hawala, gambling, pyramid or Ponzi schemes, multi-level marketing programs or get-rich-quick scheme,
- piracy or illegal streaming,
- unregulated pharmaceuticals/food supplements (e.g. ‘nutraceuticals’) or any business involved with Cannabidiol “CBD”,
- adult services connected to human trafficking, escort services, sale and/or advertising or suggestion of sexual services that may imply or suggest prostitution, production or visual broadcasting of pornography or striptease clubs (this does not include literature, toys, DVDs, educational or scientific material, or dating sites),
- counterfeit goods, violation of intellectual property or items or services that violate someone’s privacy,
- transactions for goods subject to export prohibitions,
- transactions involving living animals (exceptions possible concerning horse riding, or dog classes) or sale of human organs,
- weapons of war, automatic weapons, ammunition or defence equipment (including merchants involved in the sale, intermediation or commerce of war or automatic weapons, including but not limited to chemical weapons, cluster bombs, ammunitions, dual-use goods or other defence equipment or similar),
- unlicensed charities, non-profit or social services organisations or unlicensed crowdfunding, crowdlending or similar activities,
- political parties, and
- political/religious/non-profit organisations engaged in hate speech.
2.2 Additional restrictions for certain segments
Customers whose business purposes include affiliate marketing, network marketing, referral marketing and multilevel marketing must:
- Not be established as a multilevel scheme to circumvent credit card scheme rules.
- Comply, in letter and in practice, with distant marketing or online selling legislation, including US negative option features and EU withdrawal rights, or the equivalent,
- Not engage in aggressive tax planning or transfer pricing or make use of nominees or similar structures to hide or mask true beneficial ownership of the entities involved in the scheme,
- Not have unfair pricing or charges, or withdrawal/cancellation rights that cannot be effectively exercised without unfair costs or penalties
Customers who are considered marketplaces must:
- Have a three year or more track record,
- Onboard sellers under financial services-equivalent standards, and
- Not process flows through Juni that relate to goods or services that are prohibited within this policy
Customers who are working with precious metals and stones, arts and antiques, other valuable commodities, sale of vehicles or other merchants dealing with high value goods. If any payments are to be made to, or received from, a business providing these services, the following restrictions also apply. These businesses must:
- Be located in the UK/EEA.
Import/export and cross-border logistics companies, including maritime and landbased shipping. These businesses:
- Must exercise supply chain due diligence to ensure that recipients and counterparties to a transaction are not sending or receiving commodities that may trigger sectoral sanctions.
- May not have activities involving countries considered prohibited by this list.
- May not deal with goods or counterparties considered prohibited by this list.
UK and Ireland Limited Partnerships. This includes Limited Partnerships (LP), including Scottish Limited Partnerships (SLP) and Limited Liability Partnerships (LLP). These businesses must:
- Have all partners/ownership in the country of domicile.