Hapi is a company that operates and is regulated under the laws of the United States.
By operating under U.S. regulations, we must comply with the policies and restrictions issued by OFAC and FATF, which identify jurisdictions with restrictions on doing business with U.S. companies or jurisdictions that have deficiencies in their Anti-Money Laundering (AML) and/or Counter-Terrorism Financing (CFT) policies.
These policies are mandatory for companies operating under regulations issued by the U.S. government.
What is the OFAC Sanctions List?
The OFAC (Office of Foreign Assets Control) is an agency of the U.S. Department of the Treasury that administers economic and financial sanctions. These sanctions apply to countries, individuals, and entities involved in activities such as terrorism, drug trafficking, human rights violations, or others.
The OFAC sanctions list identifies the countries, individuals, and entities restricted from conducting financial transactions with U.S. institutions or their partners. To learn more about OFAC, its sanctions lists, and policies, visit their website here.
What is the FATF-Identified Jurisdictions with AML/CFT Deficiencies List?
The FATF (Financial Action Task Force) is an international organization that combats money laundering (AML) and terrorist financing (CFT).
This list identifies countries with deficiencies in their financial control systems and requires financial institutions to take extra precautions or cease operations with these jurisdictions.
To learn more about FATF, its policies, and comments on each jurisdiction, visit their website here.
OFAC and FATF Blocked Jurisdiction List
Cuba
Guyana
Haiti
Nicaragua
Trinidad and Tobago
Venezuela
What Will Happen to Your Account if You Registered in Venezuela?
If you have funds available in your Hapi account, you will be able to operate as usual—buy, sell, deposit, withdraw, and everything currently available—until January 12, 2025.
Starting January 13, 2025, the following considerations will apply:
You will not be able to place new buy orders.
You will be able to withdraw, sell, or transfer your assets to other brokers (outgoing ACATs).
Additionally, if you have not yet made a deposit to your Hapi account, you can close it by requesting it here if desired, or it will be automatically closed by us in January.
We understand this situation may be difficult, but we are obligated to comply with these international regulations.
We want this transition to be as clear and simple as possible. If you have any questions or need help with your account, our support team is available to assist you every step of the way. Don’t hesitate to reach out. We’re here for you!