Figo Prohibited Use Policy

Last Updated: January 23, 2026

This Figo Prohibited Use Policy ("Prohibited Use Policy") applies to all products, services, offerings, platforms, or technologies provided by Figo Boost Inc. ("Figo", "we", or "us"), whether provided directly by us or through any partnership, integration, or co-branding arrangement ("Figo Services").

1. General Prohibitions

You may not use any Figo Services in any manner that:

Violates any applicable law, regulation, or sanctions program.
Contravenes applicable payment network rules, partner requirements, or Figo policies.
Circumvents limits, authentication, or risk-control measures imposed by Figo or its partners.
Involves the provision of services to third parties without express written authorization from Figo.

2. Sanctioned & Restricted Jurisdictions

You may not access or use Figo Services if you are:

Located in, a resident of, or otherwise transacting with a country, territory, or entity subject to comprehensive sanctions or embargoes (including Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk, or Luhansk regions of Ukraine).
Located in, or transacting with, jurisdictions that Figo prohibits due to high money laundering, fraud, or compliance risk.
A person or entity named on any restricted party list issued by the United States, United Kingdom, European Union, United Nations, or other applicable jurisdiction.

Current Service Regions: Figo Services are currently available only to residents of Nigeria, Ghana, and Kenya. We reserve the right to expand or restrict service availability at our discretion.

3. Prohibited Activities

3.1 Illegal Activities

You may not use any Figo Service for any activity that is unlawful, regulated without a license, or otherwise restricted. This includes:

The sale of illegal drugs or controlled substances without appropriate authorization or licensing.
Prostitution, unlawful adult services, human trafficking, or sexual exploitation.
Unlicensed gambling or wagering, including internet gambling where prohibited.
The sale of unlicensed weapons, ammunition, explosives, or defense articles.
Dealing in stolen property or goods obtained through fraud.

3.2 Financial Crimes & Fraud

You are prohibited from using any Figo Service for:

Engaging in the sale or distribution of counterfeit goods or services.
Money laundering, terrorist financing, sanctions evasion, or other financial crimes.
Using cryptocurrency mixers, tumblers, or privacy-enhancing coins where prohibited.
Market manipulation, insider trading, fraudulent investment schemes.
Creating multiple accounts to circumvent transaction limits or verification requirements.
Providing false, incomplete, or misleading information to Figo or its partners.

3.3 Strictly Prohibited Activities

Unlicensed money services, currency exchange, or virtual asset brokerage.
Operating digital asset exchanges, secondary NFT marketplaces, ICOs, or cryptocurrency wallets not authorized by Figo.
High-yield investment programs or pyramid schemes.
Multi-level marketing schemes.
Debt consolidation, debt settlement, credit repair, or counseling services.
Adult content businesses.
Tobacco product sales.
Unlicensed crowdfunding or fundraising platforms.
Processing payments on behalf of undisclosed third parties.

4. Stablecoin & DeFi Specific Restrictions

4.1 Permitted Stablecoin Use

Figo Services are designed for legitimate personal and business use of USD-pegged stablecoins (USDC) for:

International payments and subscriptions.
Cross-border commerce and shopping.
Legitimate freelance and remote work compensation.
Business-to-business payments.
Personal savings and dollar access.

4.2 Prohibited Stablecoin Activities

Transfer USDC to known mixing services, privacy protocols, or sanctioned addresses.
Engage in wash trading, market manipulation, or artificial transaction volume.
Fund or receive funds from darknet markets, ransomware operations, or illegal online marketplaces.
Participate in rug pulls, pump-and-dump schemes, or fraudulent token launches.

5. Card-Specific Restrictions

5.1 Cash-Like Transactions

You may not use your Figo for transactions defined as cash-like transactions unless expressly permitted:

Purchase of money orders, traveler's checks, or foreign currency.
Wire transfers, money transfers, or peer-to-peer payment account funding.
Purchase of cryptocurrency or other digital assets outside Figo-approved flows.
Purchase of lottery tickets, casino chips, wagers, or gambling tokens.

6. Consequences of Violations

Violations of this Prohibited Use Policy may result in:

Immediate account suspension or termination.
Forfeiture of funds associated with prohibited activities.
Reporting to law enforcement and regulatory authorities.
Legal action to recover damages, losses, or penalties.
Permanent ban from Figo Services.

6. Transaction Monitoring & Limits

6.1 Transaction Limits

Figo imposes transaction limits based on your verification level, account history, and risk profile. These limits may include:

Daily, weekly, and monthly transaction volume limits.
Per-transaction size limits.
Limits on specific transaction types (e.g., P2P transfers, card spending).
Velocity controls on deposits and withdrawals.

You may not attempt to circumvent these limits by creating multiple accounts, splitting transactions, or other evasive techniques.

6.2 Enhanced Due Diligence

Figo reserves the right to request additional information for transactions that:

Exceed certain monetary thresholds.
Originate from or are destined to high-risk jurisdictions.
Involve counterparties on watchlists or sanctions screening.
Exhibit unusual patterns inconsistent with your stated account purpose.
Involve business activities requiring additional licensing or approval.

6.3 Source of Funds

You must be able to demonstrate legitimate source of funds for all deposits into your Figo account. We may request documentation including but not limited to:

Employment contracts and pay stubs.
Business registration and financial statements.
Tax returns and bank statements.
Proof of asset ownership.
Transaction history from originating platforms.

7. Monitoring & Enforcement

7.1 Monitoring Rights

Figo reserves the right to monitor transactions and activity for compliance with this Prohibited Use Policy and to request additional information, including:

Proof of identity and beneficial ownership.
Source of funds documentation.
Transaction purpose and supporting documentation.
Business licenses and regulatory approvals.
Blockchain transaction history and wallet addresses.

7.2 Enforcement Actions

We may take the following actions if we suspect violations of this Prohibited Use Policy or identify risks to Figo, our partners, or other users:

Decline or reverse transactions.
Place temporary or permanent holds on account balances.
Request additional verification or documentation.
Suspend or terminate access to Figo Services.
Report suspected unlawful activity to law enforcement, regulators, or partners.
Seek to recover any losses, penalties, fines, or costs resulting from your breach.

7.3 No Liability for Enforcement

Figo is not liable for any losses or damages resulting from our enforcement of this Prohibited Use Policy, including but not limited to declined transactions, holds on funds, account suspension or termination, reporting to authorities, or delays in processing while under review.

7.4 Cooperation with Authorities

You acknowledge that Figo may be required to freeze funds, provide transaction records, or otherwise cooperate with law enforcement, regulatory authorities, or legal processes. We are not required to notify you prior to such cooperation unless required by law.

8. Consequences of Violations

Violations of this Prohibited Use Policy may result in:

Immediate account suspension or termination.
Forfeiture of funds associated with prohibited activities.
Reporting to law enforcement and regulatory authorities.
Legal action to recover damages, losses, or penalties.
Permanent ban from Figo Services.
Referral to payment network fraud databases.
Cooperation with partner platforms to prevent further violations.

9. User Responsibilities

9.1 Compliance Obligation

You are responsible for ensuring that your use of Figo Services complies with all applicable laws, regulations, payment network rules, and this Prohibited Use Policy and all Figo agreements.

9.2 Beneficial Ownership

If you are acting on behalf of another person or entity, you must disclose this relationship to Figo, provide documentation of your authorization, ensure the beneficial owner complies with this Prohibited Use Policy, and maintain accurate records of beneficial ownership.

9.3 Ongoing Monitoring

You must regularly review this Prohibited Use Policy for updates, monitor your account for unauthorized activity, promptly report suspicious activity or policy violations, update your account information when circumstances change, and respond promptly to Figo requests for information.

10. Changes to this Prohibited Use Policy

We may update this Prohibited Use Policy at any time by posting a revised version on our website at spendfigo.com. We will notify you of material changes via email or in-app notification. Your continued use of Figo Services after the effective date of an update constitutes your acceptance of the revised Prohibited Use Policy. If you do not agree to the updated Prohibited Use Policy, you must discontinue use of Figo Services and may close your account in accordance with our Terms of Service.

11. Interpretation

11.1 Governing Law

This Prohibited Use Policy is governed by the laws of the State of Delaware, United States, without regard to conflict of law principles.

11.2 Severability

If any provision of this Prohibited Use Policy is found to be invalid or unenforceable, the remaining provisions will continue in full force and effect.

11.3 Entire Agreement

This Prohibited Use Policy, together with the Figo Terms of Service and any product-specific agreements, constitutes the entire agreement between you and Figo regarding prohibited uses.

11.4 No Waiver

Our failure to enforce any provision of this Prohibited Use Policy does not constitute a waiver of that provision or our right to enforce it in the future.

12. Contact Us

If you have questions about this Prohibited Use Policy or its application to your use of Figo Services, you may contact us at:

Email: hi@spendfigo.com
Website: spendfigo.com/legal/prohibited-use-policy

Figo Boost Inc.
Doing business as Figo
Delaware C Corporation

Figo is a financial technology company, not a bank. Banking services are provided by our licensed partner financial institutions. By creating your account on Figo, you agree to our Terms of Service, our partners' terms, and all applicable laws and regulations. You are responsible for compliance with any and all applicable local laws.