We are grateful to all our accountancy partners for inviting their clients to Telleroo. We happily accept most of the UK Businesses Registered on Companies House or Charities Registered with Charity Commissions. But on occasion, you might have seen our reply, stating that we are unable to offer our services to certain clients because their activity falls outside our Risk Appetite.
We understand this might be confusing…What is a risk appetite?
The risk appetite is our client acceptance criteria. We review the client from the following perspectives:
Industry
Geographical exposure
Regulatory Status
How long have they been trading
Have they conducted Business ethically in the past
Are they linked to any Sanctioned Entities or Individuals
What kind of transaction they are going to make
Below is the list of non-permitted activities. What it means, is if the client falls in one of the below lists, we will be unable to offer services to them.
Non - Permitted Industries
Diamond or Precious Metal Investment
Autographed collectible (memorabilia) businesses
Defence / Military Related
Crypto companies
Hypnosis services
Mini-bonds
Multi-Level Marketing (MLM)
Nutraceuticals businesses
Products relating to dating services
Psychic service
Regulated Cannabis Industry
Telemarketing Bureaus and Other Contact Centers
Unregulated financial or investment service
VoIP or telemarketing
Wine investment
Growing of tobacco
Manufacture of tobacco products
Manufacture of explosives
Processing of nuclear fuel
Manufacture of weapons and ammunition
Manufacture of military fighting vehicles
Striking of coins
Agents involved in the sale of food, beverages and tobacco
Wholesale of tobacco products
Non-trading companies
Activities of call centres
Defence activities
Activities of political organisations
Activities of households as employers of domestic personnel
Residents property management
Undifferentiated goods-producing activities of private households for own use
Undifferentiated service-producing activities of private households for own use
Activities of extraterritorial organisations and bodies
Dormant Companies
Non - Permitted Countries
This applies to Businesses established Outside the UK or 50% owned by the entity from the below Countries:
Afghanistan
Belarus
Bosnia and Herzegovina
Burundi
Central African Republic
Cuba
Democratic Republic of the Congo
Ghana
Guam
Guatemala
Haiti
Iran
Iraq
Lao PDR
Libya
Mali
Myanmar
North Korea
Russian Federation
Somalia
South Sudan
Sudan
Syria
Venezuela
Yemen
Non- Permitted Transactions
Transactions to Cryptocurrency trading companies/exchanges
Transactions involving Financial Pyramid or Ponzi Schemes
Transactions involving Gambling and Gaming
Transactions involving Illegal Drugs and Narcotics Illegal Services
Transactions involving distribution of stolen goods (including digital and virtual)
Transactions that violate individual privacy (revenge porn) Illegal Services Prohibited
Transactions involving the distribution of tobacco, e-cigarettes and e-liquid
Transaction to Unregulated Auction Houses
Transaction to the companies involved in the Production of Adult or Violent content
Transactions involving the Production or Distribution of Offensive Weapons: Ammunition, Firearms, Explosives, Complex Weapons (i.e. guided missiles)
Transactions involving Poisons
Transactions to Psychic services
Transactions to companies involved in promoting offensive materials, including racial hatred or discrimination based on gender, race, religion, national origin, physical ability, sexual orientation, or age
Transactions involving Human Organs Other
Transactions involving Sanctioned individuals and entities
Transactions to unknown/unidentified payees
Non - Permitted Shares type
Bearer Shares
A bearer share is a type of share that doesn't need to be registered under a specific person or business. The share will not be registered on any share registry and whoever holds the share certificate has full ownership of the share.
Non - Permitted Product usage
Telleroo Product is designed for companies' payments such as Payroll, Supplier Payments, Taxes, Pensions etc. Misuse of the product may result on the account closure.
Other considerations
Shareholders Type
Nominee Shareholders without disclosure of the beneficiary.
We can only accept companies with Nominee Shareholders in their ownership structure when full disclosure ( on whose behalf shares are held) is made and the name of the Custodian is provided.
Reputation
We are unlikely able to offer services to the business and connected individuals who are currently under investigation for financial crime.
Politically Exposed Persons - PEPs
We generally accept all PEPs Foreign and Local providing they have a good reputation.
Sanctioned entities and individuals
We will not be able to offer services to the entities or individuals that are subject to UK or Global Sanctions.