High-scrutiny industries

Who this is for / not for

This page is for businesses in high-scrutiny sectors (e.g. crypto, gambling-adjacent, certain financial services, high-risk health) that face stronger bank and processor due diligence and want realistic expectations and constraints. It is not for standard trading or services with no enhanced risk.

Decision summary

  • Banks and processors apply enhanced due diligence (EDD): more documentation, policies, and sometimes higher fees or reserves.
  • Have clear policies and procedures (AML, compliance, risk) and be prepared for realistic constraints (fewer banks, longer timelines, possible refusals).
  • Shortlist jurisdictions and partners that explicitly serve your sector; then choose partner type and request introductions when ready.

Banking & payments reality

High-scrutiny sectors get more scrutiny: banks and processors want policies, evidence of compliance, and sometimes enhanced KYC. Not all banks or processors serve these sectors; some refuse entirely. See Payment processors readiness and Bank account opening checklist. Be prepared for a smaller shortlist and longer onboarding.

Costs & timeline

Timelines are often longer (extra checks); costs can be higher (compliance, introducer fees, reserves). See Costs, timelines, hidden fees and Compare jurisdictions. Budget for EDD and possible rejection.

Docs & KYC checklist

Expect requests for: full KYC pack, business narrative, policies (AML, compliance, risk), licences if applicable, and evidence of how you manage risk. Use Bankability checklist and add sector-specific docs.

Common failure points / red flags

Common failures: no written policies; unlicensed activity where a licence is required; vague narrative; applying to banks or processors that do not serve the sector. Research which providers accept your industry and meet their bar.

Alternatives

Alternatives: jurisdictions or entity types that are more accepted for your sector; or adjusting business model to reduce perceived risk (e.g. B2B only, licensed entity). See Compare jurisdictions and sector-specific guidance.

FAQ

What is enhanced due diligence (EDD)?
Extra checks beyond standard KYC: deeper verification of beneficial owners, source of funds, business model, and often written policies (AML, compliance). Banks and processors use EDD for higher-risk customers.
Which jurisdictions are more open to high-scrutiny sectors?
It varies by sector. Some jurisdictions have licences and a known path (e.g. Malta, Gibraltar for certain activities); others are more restrictive. Research per sector and speak to providers who explicitly serve your industry.
What policies do banks want?
Often: AML policy, compliance procedures, and sometimes risk assessment. They need to see that you understand and manage risk. Tailor to your business; generic templates are a start but may need refinement.
Why do so many banks refuse?
Banks weigh regulatory and reputational risk. High-scrutiny sectors increase both; many banks adopt a policy of not onboarding rather than managing the risk. Focus on providers that explicitly serve your sector.

Next steps