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Sanctions

Lopay is firmly committed to complying with the sanctions laws and regulations of the jurisdictions in which we operate. This includes prohibitions involving business with sanctioned persons and jurisdictions. Lopay and its payment processor Stripe closely follow regulatory developments implicating sanctions obligations. You may find real-time updates about which jurisdictions Lopay or Stripe considers to be prohibited by reviewing our Restricted Business List.

Lopay, via Stripe, complies with all sanctions programs administered by the U.S. Office of Foreign Assets Control (OFAC), along with a number of other national and international sanctions regimes. This includes both prohibitions against interactions with certain individuals and entities as well as comprehensive bans on business dealings involving certain countries or regions that are targeted by sanctions regimes.

Lopay, via Stripe, screens all accounts, in compliance with our own obligations under these sanctions regimes. If a connected account is flagged as a possible sanctions concern, Stripe will pause payouts from the connected account and contact the platform by email to request additional information.

Payouts from the connected account will remain paused until the review has been cleared. Disregarding or violating sanctions can lead to fines, regulatory action, and loss of licensing for both Stripe and our users.

Lopay Sanctions Policy​

Introduction​

Lopay is committed to complying with all applicable sanctions laws and regulations. This policy sets out Lopay's procedures for identifying and managing sanctions risks.

Scope​

This policy applies to all Lopay employees, agents, and representatives who are involved in the processing of payments.

Sanctions​

Sanctions are measures imposed by governments or international organizations to restrict or prohibit certain activities, such as trade, investment, or financial transactions. Sanctions can be imposed for a variety of reasons, such as to counter terrorism, proliferation of weapons of mass destruction, or human rights abuses.

Identifying Sanctions Risks​

Lopay will identify sanctions risks by:

  • Reviewing applicable sanctions laws and regulations
  • Monitoring news and events that could impact sanctions
  • Conducting due diligence on customers and counterparties
  • Managing Sanctions Risks

Lopay will manage sanctions risks by:

Implementing appropriate policies and procedures Training employees on sanctions compliance Monitoring transactions for potential sanctions violations Reporting suspected sanctions violations to the appropriate authorities Sanctions Compliance Officer

Lopay has appointed a Sanctions Compliance Officer who is responsible for overseeing the implementation and enforcement of this policy.

Enforcement​

Lopay will enforce this policy by taking appropriate disciplinary action against employees who violate it.

Audits​

Lopay will conduct regular audits to ensure that this policy is being implemented and enforced effectively.

Changes to the Policy​

This policy may be amended from time to time to reflect changes in applicable laws and regulations.

Contact Information​

If you have any questions about this policy, please contact the Sanctions Compliance Officer at [mailto:[email protected]][email protected]