List of legal documents of PlasmaPay service:
- Data Protection Policy →
- Anti-Money Laundering and Know Your Customer Policy →
- Refund Policy →
- Cookies Policy →
- Anti-fraud and security policy →
- Risk disclosure →
Data Protection Policy
This document was last updated on September 5, 2018
1. About this policy
This is a data protection policy adopted by Plasma Alliance OÜ (“PlasmaPay”). The responsibility for the updating and distribution of this policy rests with the PlasmaPay Security Officer. This policy is subject to periodic review to ensure that changes to the relevant legislation or the structure or internal PlasmaPay’s policies are reflected into this policy. PlasmaPay’s directors and staff are expected to apply the policy and to seek advice or consultation as appropriate. In the normal course of commercial operations, PlasmaPay needs to collect and retain certain types of personal data (both public & non-public) from a variety of sources including clients, prospective clients, personnel, suppliers, business contacts, financial companies and institutions, and others who PlasmaPay conducts business with. For the purpose of this policy, these will be referred to as (“Data Subjects”).
In addition, to ensure PlasmaPay complies with its regulatory obligations it may be required by law to collect and use certain types of information.
Personal data means data which relates to an individual who can be identified from that data or from that data combined with other information which is in the possession of or is likely to come into the possession of, the data controller.
All personal data must be dealt with correctly, as provided for by the safeguards in the General Data Protection Regulation (“GDPR”), however, it is ascertained, recorded and used. This applies equally whether the data is held electronically, on paper or by other means.
In addition to any legal consideration, PlasmaPay believes the lawful and correct treatment of all personal data (non-public) is an essential step in building and maintaining confidence to everyone concerned including both staff, clients and business associates alike. We confirm that our company treats personal data in a lawful and correct manner.
2. Data protection principles
In light of this PlasmaPay fully endorses and comply with the principles set out below in the GDPR which govern the processing of personal data.
The data protection principles under the GDPR and some examples of practical steps taken by PlasmaPay to help ensure compliance with the principles (by the application of appropriate management structure and strict use of criteria and controls) are set out below.
- Personal data shall be processed fairly and lawfully. This principle is an overarching one which impacts upon each of the other principles below.
In particular, processing will not be fair and lawful if the data subject has been deceived or misled as to the purpose or purposes for which their personal data will be processed. PlasmaPay will, therefore, ensure that certain information (“Personal Data”) has been provided to the Data Subjects before processing takes place (i.e. on their data collection forms). This information must include the following:
- the identity of PlasmaPay as the data controller;
- the purpose(s) for which the data will be collected by and processed by PlasmaPay; and any other information that is necessary to enable the particular processing to be fair (some of which are required by the other data protection principles as set out below). For example: the recipient or categories of a recipient of the data including all those third parties that PlasmaPay disclose data to or who process data on PlasmaPay behalf (e.g. to financial and legal advisors, payroll and pensions processing companies, consultants working on PlasmaPay behalf and governmental authorities);
- whether (or not) any of the intended recipients of the data are outside the European Economic Area;
- whether replies to questions asked by PlasmaPay are obligatory for justifiable operational reasons;
- the existence of the right of access to, and the right to rectify the data;
- the use of personal data for direct marketing purposes;
- the security measures implemented by PlasmaPay regarding the processing;
- PlasmaPay policy on record retention (how long records are kept and any steps taken to ensure that records are accurate and kept up to date);
- PlasmaPay contact details;
- explaining how consent, once given, can later be withdrawn etc.
In addition to providing the Personal Data, to ensure that all processing is fair and lawful PlasmaPay will also ensure that the processing in question can be justified under certain conditions set out under the GDPR. This means that at least one of the following must be met:
- the data subject has given freely given specific and informed consent to the processing;
- the processing is necessary for the performance of a contract to which the data subject is a party, or for the taking of steps at the request of the data subject with a view to entering into a contract;
- the processing is necessary for compliance with any legal obligation to which the PlasmaPay is subject, other than an obligation imposed by contract;
- the processing is necessary in order to protect the vital interests of the data subject;
- the processing is necessary for the administration of justice, the exercise of any functions conferred on any person by or under any enactment, or for the exercise of any other functions of a public nature exercised in the public interest by any person.
In the case of sensitive personal data (i.e. personal data concerning a Data Subject’s racial or ethnic origin, political opinions, religious beliefs, trade union membership, physical or mental health or condition (which will include employee’s health records), sexual life or the commission or alleged commission of any offence or proceedings for any actual or alleged offence, the disposal of such proceedings or the sentence of any court in such proceedings) this may only be collected stored, used, disclosed or otherwise processed if, in addition to the requirements set out above one of the following conditions is met:
- the data subject concerned has given PlasmaPay specific written consent to process the personal data;
- PlasmaPay needs to process the personal data to carry out its obligations under national employment law;
- PlasmaPay needs to process the personal data to protect the individual (or another person) where that individual is physically or legally incapable of giving his consent (e.g. where an individual has been involved in a road accident or develops a health condition); or
- the processing relates to personal data which has been made public by the individual concerned or is necessary for legal claims.
- Personal data shall be obtained only for one or more specified and lawful purposes and shall not be further processed in any manner incompatible with that purpose or those purposes.
To ensure these goals, PlasmaPay adheres to the following standards and rules:
- Has set up internal procedures to identify the collection points of data (e.g. websites, mobile apps, application forms, emails, etc.), the nature of the data collected and the purposes for which such data is processed;
- will give Data Subjects the processing information when data is collected or obtained;
- will ensure that personal data is not used for reasons not set out in this policy without ensuring that the policy’s conditions are met.
- Personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which it is processed.
In order to process data in a way which is compatible with the purposes for which it is processed PlasmaPay will periodically review data collection procedures to ensure that they are adequate, relevant and not excessive in relation to the purpose for which data is going to be processed; review requests for personal data, to ensure that all data which is supplied is necessary or whether it can be destroyed; periodically review personal data held in manual filing systems and digital filing systems to ensure that PlasmaPay is holding no more than the minimum of data required for the purpose for which the data was collected, and ensure that if employees are allowed to enter free text onto records, training is given to them to ensure its relevance. Personal data shall be accurate and, where necessary, kept up to date.
PlasmaPay will check that personal data is accurate, complete and current by, for example: keeping a record of the dates on which personal data is created and/or obtained both manually and electronically; assessing the accuracy of the personal data at the time of collection when it comes from sources other than the data subject concerned and, in any case, reviewing the accuracy of personal data before it is entered into any filing systems; ensuring that where personal data is duplicated and held separately (e.g. at a different locations or in a different department) any updates or amendments are communicated to all holders of the personal data and that the personal data is updated/amended accordingly; and checking personal data periodically to ensure that it is accurate and up to date and to evaluate the degree of damage to the Data Subject and PlasmaPay which could be caused through inaccurate or out of date personal data being held. This could be done by putting a procedure in place which provides that when a record is accessed, the individual accessing the file has to sign off that they have briefly reviewed the entire file and removed/amended any inaccurate personal data. Personal data processed for any purpose or purposes shall not be kept for longer than necessary for that purpose or those purposes.
PlasmaPay will comply with this principle by reviewing personal data periodically to determine whether retention is justifiably necessary for legitimate business purposes or whether the personal data can be archived or destroyed, and ascertaining whether such personal data could be retained in an anonymous format (e.g. if kept only for historical or statistical purposes).
- Personal data shall be processed in accordance with the rights of Data Subjects under the GDPR.
PlasmaPay will inform Data Subjects of: the obligatory or optional nature of the personal data requested (e.g. optional fields could be marked with a star which indicates that such personal data may be used for future marketing activities; and how Data Subjects can contact PlasmaPay with any inquiries or complaints about the processing of personal data and the choices and the means offered by PlasmaPay for limiting the use and disclosure of personal data.
PlasmaPay has also established suitable procedures to enable an individual to find out whether personal data (of which that individual is the data subject) is being processed by or on behalf of PlasmaPay and if so what such personal data comprises. Such a request by an individual must be in writing and PlasmaPay may be entitled to charge a small fee for responding to such requests. PlasmaPay has trained staff to recognize subject access requests from Data Subjects and to respond to these in accordance with the GDPR and particularly in accordance with the statutory time limits.
PlasmaPay will obtain specific written consent from data subjects to use their personal data for non-obvious purposes such as for direct marketing through a data protection notice on data collection forms (e.g. on website registration forms, application forms etc).
PlasmaPay will inform data subjects if it intends to use their personal data for a purpose which is different from those for which the personal data was originally collected or where it intends to disclose personal data to a third party who has not previously been authorized by the individual concerned.
PlasmaPay will ensure the rights granted to the people about whom personal data is held are upheld, including such issues as their right to be informed that processing is being undertaken, their rights to access such personal data, and their rights to correct or have deleted personal data that is determined as wrong personal data.
In order to protect personal data stored by PlasmaPay from being lost, misused, accessed without authorisation, disclosed, altered or destroyed, PlasmaPay will, for example: ensure that all necessary technical and structural security measures are undertaken to safeguard personal data; promote awareness of data security among employees and where possible, conduct training in security responsibilities and issues; only authorise individuals to access personal data where they have a business need to do so, where they are reliable and where they have the appropriate knowledge to make decisions concerning how it should be handled (i.e. carry out background checks and conduct training to ensure that individuals understand their responsibilities, particularly surrounding confidential information and special categories of data).
PlasmaPay will also segregate employee duties to ensure that responsibility for sensitive tasks is appropriately controlled, monitor access to personal data to prevent violations, intentional or accidental damage or disclosure, identify potential security risks and exposures within the company and implement appropriate security measures to counter those risks. According to these measures PlasmaPay will: (i) only give employees access to personal data where they are authorized and have a legitimate business need to do so, (ii) maintain a clear desk policy and ensure that: (i) computer servers are set up to optimise security, (ii) all systems passwords/authorization levels etc. are periodically reviewed to ensure that they are assigned to appropriate staff, (iii) where possible, audit trail capabilities of automated systems are used to track who accesses and amends personal data, (iv) implement procedures to stop all employees whose employment has been terminated or transferred and any third parties (e.g. contractors) who are no longer used, from accessing systems used to process personal data.
- Personal data shall not be transferred to a country or territory outside the European Economic Area (EEA), unless that country or territory ensures an adequate level of protection for the rights and freedoms of data subjects in relation to the processing of personal data.
PlasmaPay will ensure that the transfer of personal data abroad is only done once suitable safeguards have been made. This will be where either one or several of the following conditions apply:
- the Data Subject has given specific consent;
- the transfer is to a country that offers an adequate level of protection, such as countries within the EEA, Switzerland, Argentina, Isle of Man, Guernsey, (please note this list is not intended to be exhaustive and is subject to alteration and addition);
- the transfer is to a US-based company which has signed up to the scheme by using Binding Corporate Rules which are aimed at multinational organizations.
3. Storage security and international data transfers
All information you provide to us is stored on our secure servers. Any payment transactions carried out by us or our chosen third-party provider of payment processing services will be encrypted using Secure Sockets Layer technology or a secure virtual private network. Where we have given you (or where you have chosen) a password that enables you to access certain parts of our app and/or our website, you are responsible for keeping this password confidential. We ask you not to share a password with anyone.
Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our app or our website; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorized access.
Certain services may include social networking, chat room or forum features. Ensure when using these features that you do not submit any personal data that you do not want to be seen, collected or used by other users.
4. Data Protection Officer
To enable PlasmaPay to achieve its objective of compliance with the principles of the GDPR we have appointed a designated Data Protection Officer with specific responsibility for data protection who will act as the central focus for all issues relating to data protection. Data Protection Officer will be responsible for identifying information, implementing appropriate data protection measures to comply with applicable law and maintaining those measures at appropriate levels.
Data Protection Officer has a number of important responsibilities including:
- monitoring PlasmaPay’s compliance with the GDPR and other data protection laws;
- raising awareness of data protection issues, training PlasmaPay staff and conducting internal audits; and
- cooperating with supervisory authorities such as the ICO on our behalf.
If you have any questions about this privacy notice, including any requests to exercise your legal rights, please contact the Data Protection Officer via email at [email protected]. Please note that due to potential sensitivity of personal data we cannot process enquires in the first instance by telephone.
Anti-Money Laundering and Know Your Customer Policy of Plasma Alliance
This document was last updated on September 5, 2018
Plasma Alliance OÜ (hereinafter referred as “The Company”) Anti-Money Laundering and Know Your Customer Policy (AML-KCY Policy) is designed to prevent money laundering by meeting the Estonian AML/CFT legislation obligations including the need to have adequate systems and controls to mitigate the risk of being used to promote financial crime. The Company reserves the right to refuse registration to persons from jurisdictions that do not meet international AML-CFT standards.
Money laundering is a process, where money derived from illegal sources are introduced into the legal circulation. The main task of a person involved in the money laundering is a transformation of money into money or other financial instruments to hide as many traces of such illegal operation as possible. The Company takes all possible measures to prevent precedents where any of its customers can use the provided services for similar purposes.
The Company adheres to the following policy in the field of counteracting the legalization of proceeds from crime and the financing of terrorism by taking into account the concerns expressed by regulators of many countries, concerning the potential possibility of using crypto assets for illegal purposes, in particular, for the legalization of proceeds from crime and recognizing complete anonymity in the transactions of money transfers and purchase-sale of crypto assets, which contradicts the interests of its customers.
To monitor compliance with the legislation, the Company develops AML/KYC procedures, which are mandatory for compliance by all employees of the Company and policy-defining interactions with persons who enter into an agreement with the Company and become clients of the Company (hereinafter referred to as the “ Customers” ).
In order to protect the funds of our Customers and to ensure compliance with the world trade standards the Company works exclusively in accordance with the legislation on combating money laundering, obtained through criminal activity and countering the financing of terrorism and criminal activities:
- Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015;
- Money Laundering and Terrorist Financing Prevention Act;
- Payment Institutions and E-money Institutions Act.
The Company compliance shall ensure that the Company’s activities comply with international standards of Anti-Money Laundering Policy and all documents provided by the Customers are relevant and comply with the requirements of the law.
All questions concerning this Policy please send to the address: Plasma Alliance OÜ, Harju maakond, Tallinn, Lasnam linnaosa, Peterburi tee 47, 11415.
2. Goals and objectives
The goal of this Policy is to comply with relevant legislation and normative legal acts, and demonstrate that the Company takes seriously any attempt to use its services for illegal and unlawful purposes.
Legislation obliges the Company to take the necessary measures to prevent and identify cases of money laundering. The Company, in its turn, makes sure that the internal guidelines, procedures, and controls used by competent specialists properly and always comply with the latest requirements and innovations.
The Company applies the verification procedure for all new Customers and cannot start business relations until the identification of a new Customer is successfully confirmed.
3. Internal rules and regulations
Regulations require the Company to have:
- Policies and procedures to prevent them from being used by money launderers;
- Employees trained in these procedures and in anti-money laundering law;
- Checks and controls to ensure that the policies and procedures are working;
- Have internal and external measures in place for the disclosure procedures for suspicious transactions.
To comply with the policy of counteracting the legalization and laundering of illegal funds, the Company performs the following:
- Identification of customers (both individuals and legal entities);
- Saving the history of Customers’ transactions for at least for 5 (five) years;
- Establishing the criteria for questionable and unusual transactions as well as methods for determinating them;
- Monitoring and verification of suspicious transactions and their compliance with the criteria of questionable and unusual transactions;
- Suspension of suspicious transactions to ascertain the circumstances and to carry out the investigation with the subsequent return of suspicious funds back to the sender account;
- Waving of any obligations to the Customer if the company becomes aware that the Customer committed in any way to use the Company’s service to carry out illegal activities, including the legalization of proceeds from crime and the financing of terrorism;
- Providing available information about the Customer and his transactions to the law enforcement authorities on the appropriate official request.
In case the Company specializes in the course of monitoring will find out that any of the Customers use the Company’s services for money laundering, the company reserves the right to block the Customer’s account and all stored funds until the end of the internal investigation.
The Company also reserves the right to provide this information to the police, the authorized regulator or any other control body without the consent of the Customer.
According to the existing standards and requirements the Company has implemented the following measures:
- Approved the position of responsible officer (Compliance Officer) for reporting on the suspicious activities related to money laundering;
- Implemented a mandatory training program for all company employees on methods and measures to counter money laundering;
- Established a risk-based approach to the assessment and management of financial risk in business related to money laundering;
- Implemented and applied in practice a prudent approach to Customers, based on risk assessment, personal identification and customer address verification according to the principles of “ Know Your Customer” (KYC), providing additional thorough checks of “ suspicious” customers, which the Company determines at its sole discretion during the monitoring and verification of operations;
- Implemented a system for monitoring operations (automatic and, if necessary, manual) using systems and methods based on risk assessment of for continuous tracking of current customer activity to prevent the use of the company’s services for illegal purposes;
- Adheres to a special procedure for the detection and reporting of suspicious activities or suspicious transactions when using the company services.
4. Customer identification
Based on Money Laundering and Terrorist Financing Prevention Act we have to identify and verify any person who enters in a business relationship with us or who has an occasional transaction, including any person acting on their behalf and any beneficial owners.
Identification required for all customers who have registered of an account (personal or corporate) at https://plasmapay.com, regardless of the added (deposit) amount or send (withdrawal) amount available on the balance to a bank account or any other payment system. The identification procedure is a prerequisite for any financial and exchange operations, until completion of the identification procedure, a Customer account is unverified and has restrictions for making financial transactions and transfers.
The Customer understands that the name, address, telephone number and any other personal information, including documents (such as passport, national identity card, driving license, bank account statement, telephone bills, electricity bills or other utility bills) must be true and valid on the upload date.
- Full name;
- Gender (male/female);
- Date and place of birth;
- Place of residence (thereby identifying risks associated with countries, geographic areas or jurisdictions);
- Contact phone and email.
For legal entities:
- Name of the legal entity and DBA name;
- Registration number;
- Date and country of registration;
- The address of the office in the country of incorporation;
- The same personal data of the director as for a private client;
- Contact phone and email;
- Phone and Email.
The verification process is performed once and can be re-initiated only when the Customer’s registration data or documents are changed. After assigning to the Customer “ Verified” status, the re-submission of the verification documents is not required.
To prevent compromising of Customer’s personal data, documents uploading and data entry is done through a secure interface in the Customer’s local area (secure log-in) using an encrypted protocol.
5. Requirements for the documents
Under this Policy, any customer who decides to use the services of the Company also agrees to provide identification and verification documents that confirm identity, address and financial status, among them:
- Identity document: color copy of the passport (the first, second page with photos, as well as a page with registration data), or a color copy of the document that is proper for confirming the identity of the Customer according to the legislation of the country of which the Customer is a resident;
- Copy of the utility bill or bank statement for confirmation of the Customer’s residence (the document shall not be older than 3 months).
For legal entities:
- Copy of the certificate of registration/incorporation;
- Copy of the memorandum and articles of association or equivalent document, duly registered in the appropriate register;
- Copy of extract from a protocol of a general meeting of participants/shareholders, the copy of an extract from trade register, or an equivalent document confirming registration of the corporate acts and amendments, and powers of the company head;
- Certificate of shareholders or register of members – legalized or apostilled;
- Passport copy of the head of the company (additionally, passport copies may be requested of all individuals who, directly or indirectly, as well as through third parties, own more than 25 percent in the share capital of the company);
- A document confirming the legal entity location or the actual address, where it operates (copy of the utility bill not older than 3 months or a copy of the office rental agreement);
- Reference letter from the bank confirming the opening of a current account, or a copy of the contract with the bank about the account opening.
The Company does not accept the following types of documents as proof of address: phone bill (statement), driving license, couriers receipts, documents issued by the pension fund or insurance companies, the invoices from the shops and other companies in the area of trade and service, credit/debit card statements issued by a store or another bank agent.
Corporate customers (legal entities) provide documents certified in established order by themselves or by a notary.
In case if customer wants to make payment using credit and debit cards of international payment systems Visa, MasterCard and others, the Company will require him to pass the card verification process by providing a scan/photo of the front and back sides of the card (for security purposes, it is allowed to partially hide the card number on the front side and validation code CVV2/CVC2 on the back side) or by verifying the payment amount in accordance with the instructions in the personal account.
Copies of supporting documents must be submitted in color, at high resolution (at least 1920×1080), JPEG, JPG, GIF, PDF, max. capacity of each document should not exceed 10 Mb. The Company reserves the right to decline the documents that do not correspond to the above requirements.
6. Additional requirements
According to the existing standards and requirements in anti-money laundering the Company reserves the right at any time to request the customer to present additional documents or any additional information needed for identification.
The Company can freeze (block) the account of any Customer in case of suspicion of fraudulent activity, which may be related to the money laundering, or in case of the customer refuses to provide the requested identification documents.
If the Customer refuses to provide the requested documents and information as a response to a request from the Company without proper justification, the Company will not start a contractual relationship with this Customer, and may also notify this fact to the authorized regulator. This can lead to suspicion that the Customer is engaged in money laundering and the financing of terrorism.
If the account has been blocked and further investigation and interaction with the Customer cause problems that can not be resolved, the Company can close the account and return all funds from the balance to the source from which they were received.
7. Enhanced due diligence
Extended due diligence is carried out with respect to politically exposed persons, and/or in the presence of the signs specified in the internal Company’s policy and procedures.
If the Company has assessed that the business relationship with the Customer poses a high risk it will apply the following additional measures:
- Additional information on the Customer;
- Additional information about the reasons for choosing a company and on the intended nature of the business relationship;
- Information on the source of funds or source of wealth of the Customer;
- Information on the volume of planned transactions and transfers;
- Additional information on individuals with ownership or control over the account, such as beneficial owners, signatories, guarantors;
- Information about the reasons for the intended or performed transactions;
- Financial statements and banking references;
- Information on the availability of financial assets or property;
- A detailed company structure;
- Business model/business plan;
- Actual domicile of the business;
- Description of the business operations, the anticipated volume of currency and total sales, and a list of major customers and suppliers, contractors, payment providers, etc;
- The explanation for any changes in the corporate structure or account activity;
- Additional screening/negative news research;
- Approval from senior management for establishing/continuing the relationship;
- Enhanced monitoring of the relationship by increasing the number and timing of controls applied, and selecting patterns of transactions that need further explanation;
- Requiring that the first payment to be carried out through an account in the customer’s name with a bank subject to similar customer due diligence standards;
- Introducing enhanced reporting mechanisms/systematic reporting for financial transactions with individuals/legal entities.
The Company will conduct ongoing Customer due diligence and account monitoring for all business relationships with Customers. It particularly involves regularly reviewing and refreshing Company’s view of what its Customers are doing, the level of risk they pose, and whether anything is inconsistent with information or beliefs previously held about the Customer. It can also include anything that appears to be a material change in the nature or purpose of the Customer’s business relationship with Company.
8. Transactions monitoring
The Customer is known not only by verifying their identity (who they are) but, more importantly, by analyzing their transactional patterns (what they do). Therefore, the Company relies on data analysis as a risk-assessment and suspicion detection tool. The Company performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:
- Daily check of Customers against recognized “black lists” (e.g. OFAC), aggregating transfers by multiple data points, placing Customers on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable;
- Case and document management.
With regard to the AML-KYC Policy, the Company will monitor all transactions and it reserves the right to:
- Ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer;
- Request the Customer to provide any additional information and documents in case of suspicious transactions;
- Suspend or terminate Customer’s account when the Company has reasonable suspicion that such Customer engaged in illegal activity.
The above list is not exhaustive and the Compliance Officer will monitor Customer’s transactions on a day-to-day basis in order to define whether such transactions are to be reported and treated as suspicious or are to be treated as conscientious.
9. Risk assessment
The Company, in line with the international requirements, has adopted a risk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, the Company is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.
This document was last updated on September 5, 2018
Plasma Alliance OÜ (hereinafter – we, the Company) strives to make every customer happy with the provided service. The company has therefore created this refund policy in order to prevent disagreement with our customers and inform them that the Company does not provide any refunds on usual condition due to the nature of services. At the same time, the Company guarantees to any its customer his right for a refund, if any the paid services were not provided. Every refund in such cases is treated by Company with reasonable care.
The company also draw customers’ attention that in reasonable and justified circumstances and if necessary, the Company may refund payments received from customers through any available payment system, including bank cards.
The company expects the customer to contact it using Company contact details to resolve any problem or issue related to his any previously approved transaction before the customer makes any chargeback request with the issuing bank or credit card company. This section does not affect any rights and/or claims, which the customer may have against the bank, credit card company or any financial institution or payment provider.
Any attempt to requesting chargeback without contacting the Company may be considered as a breach of Terms and Conditions and customer may be held liable in a competent court of applicable law. The company will investigate any chargeback requests made by the customers and in response will inform the customer’s issuing bank whether any service or transaction has been canceled.
If we, however, receive a chargeback for any transaction we reserve the rights to hold chargeback amount from the customer’s current balance for the period of investigation and the dispute cycle of the payment system and credit the funds back after completing this process and charging all applicable fees.
In accordance with the Company’s policy, a refund to the customer is allowed in the following cases:
- when funds were not credited to the account balance after completion of transaction processing due to technical reasons or as a result of an error; or
- funds had been deposited into account balance, but no one operations or orders were executed and no funds were used for the services.
In such cases, if the request for a return is approved by the company, the funds will be refunded back through the same payment method and to the same credit/debit card, bank account or other wallets from which the funds were originally received.
In order to apply for a refund, the customer must complete the respective refund request and send it to the PlasmaPay support address [email protected]. The request must contain the following details:
- Transaction ID;
- Customer name and Email;
- Amount and currency of the requested refund;
- Reason and description of the request.
If a customer does not provide the necessary information in the request, including the reason and justification for the refund, or if the customer has already used deposited funds for trading or other services, Company has the right to decline such refund request without further consideration.
To prevent prohibited and unlaw conduct, all payments, and information related to refund may be additionally verified by the Company. In such case, The Company may request the customer to provide certain documents, including, but not limited to, identification documents, a copy of the customer’s invoice or/and any other proof of the fact that disputed payment was made. In case if the customer fails to provide appropriate documents or information within three (3) days upon the Company request or in case of any doubts as to the authenticity of provided documents, the Company shall be entitled to decline the user’s refund request.
The refund will be done for the full amount unless other arrangements and fees have been made in accordance with the Terms and Conditions.
Within three (3) business days as of the date of refund request receipt, Company shall contact the customer to request further information (if required) and the customer shall provide such information as soon as reasonably practicable but in any case no later than five (5) days following such request.
Company shall notify the customer by email on its final decision regarding refund within five (5) business days following the receipt of the last requested additional document or information or within three (3) business days following the receipt and reviewing of refund request if no further information or document is required.
Refund will be processed without undue delay, and in any event within five (5) days beginning with the day on which the Company agrees that the customer is entitled to a refund. Lead time of processing of refund transaction can take 3-5 business days, excluding funds transfer time from the bank or payment provider.
Confines and policy changes
This refund policy concerns exclusively customer’s deposited/added funds, and it does not refer to any refunds for send or exchange transactions that were processed as Company’s services.
Refunds in excess of the original transaction amount are prohibited for any payment method.
If there is just cause to suspect that the origins of customer’s funds and/or customer’s entire activities are contrary to Company’s Anti-Money Laundering Policy (AML Policy), Company reserve unilateral rights to deny deposit funds into account balance within Company’s systems, or withdrawal to customer account and send to other payment system and also hold such assets and refund them back to the sender’s account. Please be notified that we are obliged to inform the respective government institutions concerning each AML Policy conflict and disclose customer’s personal data.
This refund policy will be amended from time to time if there is any change in the legislation. Terms of this refund policy are subject to change by the Company and in the case of any amendments, Company will make an appropriate announcement before the changes will apply.
In case if the customer does not wish to accept the revised refund policy, he should not continue to use Company’s services. If the customer continues to use the services after change comes into effect, use of the services will be bound by the new refund policy.
This document was last updated on September 5, 2018
This privacy and cookies notice apply to the processing of personal data including information we collect and store via cookies, as explained below and references in this policy to PlasmaPay (also “we” “us” or “our”) should be interpreted accordingly.
What are cookies?
Cookies are small amounts of information in the form of text files sent by websites to computers, mobile phones or other devices when you visit a website. They allow companies to do various things, such as: tailoring content, personalizing website visits, and ensuring the security of any online experience. Cookies typically contain the name of the domain from which the cookie has come, the “lifetime” of the cookie, and a randomly generated unique number or other value. Cookies cannot be used to run programs or deliver viruses to your computer.
Cookies may come in different formats. Session cookies are temporary cookies that remain in your browser until you leave a website. Persistent cookies remain in your browser for a longer period of time. Third-party cookies are cookies that are loaded onto your browser by third-parties. Third-party cookies are usually a type of persistent cookie and are stored until you delete them or they expire based on the time period set in each cookie. For more information see http://www.allaboutcookies.org/.
You should be aware that when you access or use our content, products and services, we may collect information from the devices you use to access/receive PlasmaPay content, products and services by using ‘cookies’. We also collect such information from third-party websites, mobile websites and from apps where we show our own adverts, using cookies and related ad technology.
If you’d like to learn how to manage these cookies and choose whether or not to receive information of different types, please see the section “Controlling my cookies” below.
The types of information we process and where it comes from:
- The information you have provided to us, including through our website or when you access our services through applications.
- Information about our content, products, and services you have ordered or enquired about, including call recordings as further described below.
- Information provided to us by other organizations, such as address verification services, data brokers and credit reference agencies. This includes personal data that is publicly available.
- Information, uploads, user-generated content, and comments you make about or generate in accessing the products and services you use on our platform.
- Information we collect, via cookies and related technology, from the devices you use to access and receive content, products, and services, about your use of PlasmaPay, and/or third-party content, products and services. This includes information about your device, machine or browser which can be collected when cookies are turned off. For more information on cookies and how to manage them, please see the section on cookies.
- IP address, MAC address, unique identification number, online identifier, browser information, location data port information, logical network address, and other similar identifying information required for your devices to communicate with websites and applications on the internet.
- Technical information from the devices you use to receive our content, products and services, for example, the collection of diagnostic and traffic or location information. Note that devices and applications have their own privacy settings and notices under which they collect your information, so please check and manage your device and application settings.
We use both “session cookies” and “persistent cookies.” Please be aware that cookies may be used on our platform whether or not you have created an account or submitted information to us. As we feature the products and services of our affiliate partners for sale throughout the website, it is important for us to understand statistics on how many of the visitors to our website actually make a purchase – it is this kind of data that such cookies will track. This is important to you as it means that we and our partners can accurately make business predictions that allow us to monitor our advertising costs and provide you with more relevant and customized product and service recommendations to purchase.
We use adverts to offset the costs of running the website and to provide funding for further development. The behavioral advertising cookies used by this website are designed to ensure that we provide you with the most relevant advertisements where possible by anonymously tracking your interests and presenting similar things that you may like.
These types of cookies simply allow us to provide you with content that we feel may be of interest to you. We use session and persistent cookies for the following reasons:
When you visit our website, you may also receive cookies from third-parties. The information collected by such third-party cookies is governed by their privacy policies. Additionally, Company third-parties advertise on our behalf and within the website and affiliate tracking cookies allow us to see if website visitors have come to the website through one of our partner websites and let our partner websites know that certain visitors arrived there via the website so that we can credit them appropriately and, where applicable, allow our affiliate partners to provide any bonus that they may provide you for making a purchase. We use third-party cookies for the following reasons:
- To allow our business partners to perform analytics and collect information and serve you advertisements.
- To share information with third-parties to gain insights and marketing information based on how you use our website.
- To provide to social networks to better understand how users interact through the Internet.
- To remember your user preferences and logins.
Controlling my cookies
We respect your right to privacy and are therefore happy to provide you with tools to manage the cookies you receive from our services.
Some cookies are essential to the performance of our platform (you cannot opt out from these cookies if you wish to use our platform). Below you will find a list of some of the third-party cookies used by PlasmaPay. For those users who would prefer not to receive non-essential cookies, we have provided an “opt out” option for you to select.
Your browser may also allow you to block the storage of cookies on your computer; For more information related to your cookie settings, please use the “Help” option located within your browser. Generally, you may change your cookie settings within the “options” or “preferences” tab.
Additionally, the following links may be helpful if you wish to opt out of any cookies:
- Cookie settings in Internet Explorer.
- Cookie settings in Firefox.
- Cookie settings in Chrome.
- Cookie settings in Safari Web and iOS.
|Cookie name||Service data policy link||Opt-out link|
|_ga, _gat, _gid||https://support.google.com/analytics/answer/6004245||https://tools.google.com/dlpage/gaoptout/ https://support.google.com/ads/answer/2662922?hl=en|
|_ym_isad, _ym_uid, yabs-sid, _ym_debug, _ym_mp2_substs, I, yandexuid, usst, _ym_visorc_*, _ym_hostIndex, _ym_mp2_track, zz||https://yandex.ru/legal/confidential/?lang=en||https://yandex.com/support/metrica/general/opt-out.html|
How long we keep your information
We retain your information in accordance with our data retention, deletion and security policies. These set out the criteria we use to determine how long we keep your information, what measures we put in place to keep your information safe and secure. When deciding what to retain, we consider what information we need to best provide you with products, goods, and services, manage your relationship with us, meet our statutory obligations and meet our customers’ and previous customers reasonable expectations.
The lawful basis for cookies that we use
If you wish to make a complaint about how we use your information, please contact our support team and we will do our best to help.
Changes to this notice
We will occasionally update our privacy and cookies notice. We will post a notice of any material changes on our website prior to implementing the changes, and, where appropriate, notify you using any of the contact details we hold for you for this purpose. This may include phone, SMS, e-mail, post or interactive social media. We encourage you to periodically review our notice to be informed of how we use your information.
This privacy and cookies notice was last updated September 5, 2018.
Anti-fraud and security policy
This document was last updated on September 5, 2018
PlasmaPay is committed to conducting payment business in accordance with the highest ethical, professional and legal standards. The public, PlasmaPay’s partners and clients have the right to expect that professional, competent and trustworthy specialists are employed by PlasmaPay.
PlasmaPay will comply with applicable legislation and the highest standards of the payment industry. In line with applicable legislation PlasmaPay has a “Zero tolerance” policy towards fraud, corruption, collusion, money laundering, financing of terrorism and other criminal conduct (jointly “Prohibited Actions”), will identify and thoroughly investigate and seek to take disciplinary and/or legal action against those who perpetrate, are involved in, or assist with fraudulent or other improper actions in all PlasmaPay activity and related transactions.
In its work, PlasmaPay uses adequate and appropriate resources to implement the Anti-fraud and security policy and will ensure its transfer and understanding to customers and partners.
2. Legislation compliance
The Anti-fraud and security policy has been drafted to comply with the current applicable local and international legislation, including, but not limited to applicable EU legislation.
Adherence to the Anti-fraud and security policy PlasmaPay will ensure compliance with all relevant legislation and internal policies by all parties including clients and employees.
In pursuance of the Anti-fraud and security policy, Prohibited Actions includes fraud, corruption, collusion, money laundering, financing of terrorism and other criminal conduct defined in accordance with the description below.
- Fraud: any action or omission, including a misrepresentation that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation.
- Corruption: offering, giving, receiving, or soliciting, directly or indirectly, anything of value to influence improperly the action of another party.
- Collusion: arrangement between two or more parties designed to achieve an improper purpose, including influencing improperly the actions of another party.
- Money laundering:
- the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action;
- the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from criminal activity or from an act of participation in such activity;
- the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity;
- participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counseling the commission of any of the actions mentioned in the foregoing points.
- Terrorist financing: provision or collection of funds, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offenses within the meaning of Articles 1 to 4 of Council Framework Decision 2002/475/JHA of 13 June 2002 on combating terrorism.
- Criminal conduct: conduct, which constitutes an offense in any part of the world or would constitute an offense in any part of the world if it occurred there.
4. Key responsibilities
PlasmaPay performs a “Know-Your-Customer Policy” (KYC) due diligence on all new Clients and a due diligence on all transactions in order to detect possible compliance or integrity concern. Such due diligence is performed in accordance with the requirements of the money laundering and terrorist financing activities regulations, pursuant to the terms of KYC.
In view of the Anti-fraud and security policy PlasmaPay is responsible for:
- ensuring efficient and effective systems, procedures and internal controls are in place to enable the prevention and detection of Prohibited Actions;
- ensuring the compliance officer identifies Prohibited Actions risks in their areas of business and that all systems, procedures and internal controls are properly implemented and enforced;
- ensuring all members of the operational anti-fraud department have a duty to report any internal and external suspicions or incidents of Prohibited Actions;
- reviewing continuously its systems, procedures and internal controls through risk management processes and audit arrangements;
- reporting any suspicions regarding Prohibited Actions to the relevant state authorities.
5. Fraud detection and investigation
PlasmaPay’s Anti-Fraud and Compliance Department, in particular, the Compliance Officer, is the first line of detection, investigation, and protection in preventing Prohibited Actions through the Clients and transactions appraisal process. The Compliance officer will be responsible for the proper fulfillment of the Anti-fraud and security policy.
Where reasonable suspicion that Prohibited Actions has taken place, PlasmaPay is entitled to investigate the matter thoroughly using recognized and legitimate investigative techniques.
The Compliance officer, through the Anti-Fraud and Compliance Department, shall be responsible for:
- receiving reports of alleged or suspected Prohibited Actions involving PlasmaPay, its Clients and/or related transactions;
- investigating such matters and determining measures to prevent further situations;
- reporting its findings to the PlasmaPay management and relevant authorities, as well as any other third party on a need-to-know basis.
The Compliance Officer shall have full authority to open, pursue, close and report on any investigation on Prohibited Actions within its remit without prior notice to, the consent of, or interference from any other person or entity. All investigations will be carried out objectively and confidentially.
For situations requiring an urgent response, the Compliance officer may take any necessary measures required for the investigation, notably to preserve evidence and other details about the case. In certain cases, third-party investigators may be engaged by PlasmaPay in order to gather sufficient evidence to hand the case over to the proper authorities. Responsibility for the management of third parties rests with the Compliance Officer.
The Anti-Fraud and Compliance Department shall enjoy complete independence in the exercise of its responsibilities. The Compliance Officer shall have full authority to open, pursue, close and report on any investigation on Prohibited Actions within its remit without prior notice to, the consent of, or interference from any other person or entity.
– Professional Standards
All Prohibited Actions investigations conducted by the Anti-Fraud and Compliance Department shall be fair and impartial, with due regard to the rights of the Clients and persons or entities involved. The presumption of innocence applies to those alleged to have engaged in misconduct. Those involved in the Prohibited Actions investigation (be those under investigation or those conducting the investigation) should be aware of their rights and obligations and ensure they are fully respected.
All Clients are required to cooperate with the Anti-Fraud and Compliance Department and the Compliance officer promptly, fully, efficiently and in the manner specified by the Anti-Fraud and Compliance Department, including by answering relevant questions and complying with requests for information and records.
In accordance with PlasmaPay internal policies on access to information, all information and documents collected and generated during a Prohibited Actions investigation, not already in the public domain, shall be kept strictly confidential. The confidentiality of the information collected will be respected both in the interests of those concerned and the integrity of the investigation.
In particular, during the Prohibited Actions investigation, the confidentiality will be respected in so far as it would not be contrary to the interests of the investigation.
The Anti-Fraud and Compliance Department shall disclose such information and documents only to those persons or entities authorized to receive them or otherwise on a need-to-know basis.
6. Security framework
The purpose of the PlasmaPay’s security framework is to ensure that there are strict measures and practices in place to protect customer assets against any eventualities and threats. The majority of customer digital assets (e.g., bitcoin) are held in our offline wallet systems (Cold storage) as well as with the industry’s most reputable liquidity providers and crypto custodians. All customer fiat funds are held separately from the company’s operating bank accounts. We are conducting periodical stress tests and security audits to ensure compliance with the strictest security standards.
- Digital asset security
- Cold Storage. Offline wallet system (Cold storage) provides an important security measure against hacking, theft or loss. Asset transfers from the Cold storage require actions of multiple employees. All private keys are stored in safe deposit boxes and vaults distributed geographically.
- Hot Wallets. The hot wallet keys are generated, stored and managed in HSM (hardware security modules) serviced by Azure Key Vault. HSM’s hardware has been evaluated according to FIPS publication 140-2 with a rating of Level 2.
- Platform security is supported by the following solutions:
- 2FA (provided by Google Auth) provides security to the login/registration processes, as well as executing withdrawals;
- Traffic on our website runs through encrypted SSL (HTTPS);
- We partner with leading vendors to mitigate potential distributed denial-of-service (“DDoS”) attacks;
- All passwords are cryptographically hashed (using bcrypt with a cost factor of 12) while all other sensitive data is encrypted;
- All systems used will ensure the right level of access to authorized personnel with up to date monitoring systems. On-going and proactive security assessments are conducted to keep up to date with new threats and potential vulnerabilities;
- Internal сontrols;
- PlasmaPay‘s staff is educated on cybersecurity awareness and adequately trained to perform their information security-related duties and responsibilities consistent with related policies, procedures, and agreements. All employees undergo criminal and background checks, and are subject to ongoing checks throughout their employment at PlasmaPay;
- PlasmaPay regularly reviews the Anti-fraud and security policy to reflect new legal and regulatory developments and ensure good practice.
7. Client’s statement
USING OUR SERVICE YOU WARRANT AND GUARANTEE THAT YOU HAVE NO INTENTION TO COMMIT ANY OF PROHIBITED CONDUCT ACTS DESCRIBED HEREIN; FURTHERMORE, YOU CONSENT TO ANY CHECKS DUE TO INVESTIGATION UNDER THE ANTI-FRAUD AND SECURITY POLICY AND YOU AGREE TO COOPERATE FULLY AND PROMPTLY WITH THE ANTI-FRAUD COMMISSIONER WITHIN SUCH INVESTIGATION.
8. Amendments and modifications
This Anti-Fraud and Security Policy may be amended or modified at any time, at the sole discretion of PlasmaPay. You acknowledge and agree that it is your own responsibility to review the Anti-Fraud and Security Policy periodically and become aware of amendments and modifications.
If you do not wish to accept the amended/modified Anti-Fraud and Security Policy, you should not continue to use the Service. Your continued use of the Site and/or the Service following the posting of changes to the Anti-Fraud and Security Policy will be deemed as your acceptance of those changes.
Please read the following carefully to understand these risks. By visiting https://plasmapay.com/ the User is accepting and consenting to the practices described in this policy.
All defined terms are as defined in the body of the text or in the Terms.
Before we open an account for you, we are required to make an assessment of whether the product(s) and/or services you have chosen are appropriate for you, and to warn you if, on the basis of the information you provide to us, any product or service is not appropriate. If you decide to continue and open an account with us, you are confirming that you are aware of and understand the risks.
Assumption of risk
The trading of financial assets, real or virtual, as well as crypto-currencies, as well as the use of the PlasmaPay Platform, involves significant risk, and the User specifically agrees to assume the risks set out in this disclosure as well as other risks not set out herein which are inherent to online trading and cryptocurrency speculation.
The User agrees to assume the following risks and acknowledges and agrees that PlasmaPay shall not be responsible for or otherwise liable for any direct or indirect loss or damage of any kind whatsoever arising directly or indirectly from the occurrence in full or in part of any and all of the following risk events:
Trading. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. Since cryptocurrencies markets are decentralized and non-regulated our cryptocurrencies trading services are unregulated services which are not governed by any specific European regulatory framework (including The Markets in Financial Instruments Directive). This means that there is no central bank that can take corrective measure to protect the value of сryptocurrencies in a crisis or issue more currency. Therefore, when PlasmaPay customers are using our cryptocurrencies trading service they will not benefit from the protections available to clients receiving regulated investment services for dispute resolution. PlasmaPay customers will continue to benefit from the rules relating to best execution and client money and safekeeping of client assets.
Automated and online-based trading. While trading on our website, system errors might occur. You should be aware of the risks that may result from any system failure which could mean that your order may be delayed or fail.
You acknowledge that there are risks associated with utilizing an online-based trading system including, but not limited to, the failure of hardware, software, and internet connections, the risk of malicious software introduction, the risk that third parties may obtain unauthorized access to information and/or assets stored on your behalf, cyber-attack, the cryptocurrency network failure (such as blockchain), computer viruses, communication failures, disruptions, errors, distortions or delays you may experience when trading via the services, howsoever caused, spyware, scareware, trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attacks. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from PlasmaPay.
Social Trading service. PlasmaPay may offer Social Trading service. In making a decision to copy a specific trader or traders and/or follow a particular strategy, you must consider your entire financial situation including financial commitments and you understand that using Social Trading service is highly speculative and that you could sustain significant losses exceeding the amount used to copy a trader or traders. The risks associated with Social Trading service, include but are not limited to, automated trading execution whereby the opening and closing of trades will happen in your account without your manual intervention.
Price Fluctuation. Cryptocurrency prices can and do fluctuate greatly on any given day and due to such price fluctuations, the User’s cryptographic assets may be subject to large swings in value and may even become worthless.
Placing orders. An order may be incomplete and incorrect, “limit orders” and “stop orders” may not be (and are not guaranteed) executable at the price or amount specified by the User. Orders may be canceled at PlasmaPay’s discretion or for any other reason.
The User, PlasmaPay or any third party (including a Financial or Payment Institution or hacker) may send crypto to the wrong wallet address during the funding or withdrawal of their PlasmaPay account.
The User may inadvertently due to their own error or because of a system or human error place an order for the wrong asset resulting in an unwanted order.
The User may be prevented from sending an order or email may not be received by PlasmaPay or the Services, due to hardware, software or services issues (including, without limitation, Internet and other network connectivity issues).
The transaction request or email to PlasmaPay or the services may be lost, intercepted or altered during transmission.
An order may not place completely, or may be placed at the wrong price or may suffer an unexpected delay for any of a variety of reasons.
Unauthorized third parties may access or use their PlasmaPay account and effect transactions without their knowledge or authorization.
PlasmaPay may refuse to act upon any instruction from a User or any person authorized by the User if PlasmaPay reasonably believes that the transaction, pursuant to the instruction submitted, will be in violation of e.g. market rules, usual market practice, and/or applicable law, including, but not limited to, legislation on money laundering and insider trading.
Execution orders. Although the PlasmaPay Platform is automated and we are giving you the best execution available, it is possible that the market price could have changed between order placement and execution time, and therefore we cannot guarantee that the price requested will be the same as the price that the order is executed, the price you receive can be in your favor or against you.
In addition, there are risks associated with the use of online deal execution and trading systems including, but not limited to, software and hardware failure and internet disconnection.
Information. There may be errors or omissions on the reporting module or otherwise delay, inaccuracy, error, interruption or omissions in providing market quotations or other information provided on the website on which the User might rely in making an order.
Cyber-attack. A copied trader’s account’s, portfolio’s and/or strategy’s positions shall be copied in an amount equal to the lower of either the minimum position amount as shall be set by PlasmaPay from time to time or the proportional amounts of the copied trade to the realised equity of the copied trader as the basis for the proportions of copied trades. Such positions shall have the same leverage (if any), stop loss and take profit, to the maximum extent possible. Trades below the minimum trade amount shall not be opened. All such positions shall be modified and/or closed automatically if and when modified/closed by the copied trader, for whatsoever reason, without providing any further notice and without any action on the User’s part. The User should be able and prepared to bear the loss of the entire investment the User made in such a copied trader.
If the User places additional trades in the User’s account or the User modify or cancel an order generated by a Social Trading service. The User may achieve a materially different result than the user that the User copied. Unopened copied trades in amounts lower than the minimum trade may also result in different results.
Withdrawal by the copied trade may also generate a materially different result than the user that the User copied as it may affect the copy trading proportions.
The User may sustain as a result of our automatic execution of instructions generated as a result of the utilizing of any of the Social Trading services.
Financial or Payment Institution. Errors, acts or omissions of the Financial or Payment Institution, including delays in sending or receiving funds from the User’s account on PlasmaPay to or from a Financial or Payment Institution.
Exceptional market conditions. Exceptional market conditions, force majeure events, and similar events can cause the booking of funds to be delayed.
Tax. Transactions the User completes using the PlasmaPay Platform may be subject to various taxes, such as VAT, sales tax or transfer taxes that are imposed and any profit or loss the User obtain therefrom.
Account/password appropriation. Unauthorized access by third parties of the User’s login credentials to gain access to the User’s PlasmaPay account, including through carelessness or forgetfulness of the User, or the third party obtaining control over another device or account used by the User in connection with any enhanced security measures enabled for its account.
Blockchain. Since blockchain is an independent public peer-to-peer network and is not controlled in any way or manner by the PlasmaPay, PlasmaPay shall not be responsible for any failure and/or mistake and/or error and/or breach which shall occur in blockchain or in any other networks in which the cryptocurrencies are being issued and/or traded. You will be bound and subject to any change and/or amendments in the blockchain system and subject to any applicable law which may apply to the blockchain. We make no representation or warranty of any kind, express or implied, statutory or otherwise, regarding the blockchain functionality nor for any breach of security in the blockchain.
Token. The features, functions, characteristics, operation, use and other properties of any Token (Token Properties) and the software, networks, protocols, systems, and other technology, including, if applicable, any blockchain (Underlying Technology) used to administer, create, issue, transfer, cancel, use or transact in any Token may be complex, technical or difficult to understand or evaluate, and PlasmaPay agrees no obligation to provide individual advice or information in respect of any Token, Token Properties or Underlying Technology.
Any Token and its Underlying Technology may be vulnerable to attacks on the security, integrity or operation of the Token or its Underlying Technology, including attacks using computing power sufficient to overwhelm the normal operation of a blockchain or other Underlying Technology.
Any Token, Token Properties or Underlying Technology may change or otherwise cease to operate as expected due to a change made to the Underlying Technology, a change made using features or functions built into the Underlying Technology or a change resulting from an attack. These changes may include, without limitation, a “fork” or “rollback” of a Token or blockchain.
Any Token may be canceled, lost or double spent, or otherwise lose all or most of their value, due to forks, rollbacks, attacks, changes to Token Properties or failure of the Token to operate as intended.
PlasmaPay may suspend or cease to support the transfer, storage or trading of any Token at any time at PlasmaPay’s discretion. Other exchanges and service providers may do the same.
PlasmaPay may suspend or reject orders, suspend or cease support for Tokens, or suspend or terminate the User’s access to the services to comply with applicable laws or regulations or order from law enforcement or other governmental authority, for other reasons as specified in these Terms or otherwise at PlasmaPay’s discretion.
The User may be unable to withdraw Tokens prior to PlasmaPay ceasing to support a transfer of any such Tokens, resulting in the loss of any such Tokens remaining in the User’s PlasmaPay account.
Any Token may decrease in value or lose all of its value due to various factors including discovery of wrongful conduct, market manipulation, changes to Token Properties or perceived value of Token Properties, attacks, suspension or cessation of support for a Token by PlasmaPay or other exchanges or service providers, and other factors outside the control of PlasmaPay.
Any Token may decrease in value or lose all of its value due to legislative or regulatory activity, or other government.
Delisting and unsupported cryptocurrencies. If at any time any of the cryptocurrencies that form the subject of your order is delisted and/or we no longer support the trading in such cryptocurrencies for any reason, then the applicable order will be immediately closed. If PlasmaPay is notified that a cryptocurrency you hold in your account is likely to be delisted and/or removed and/or canceled from any of the exchanges (some of them or all) and PlasmaPay believes that it shall not be able to trade in such cryptocurrencies, PlasmaPay shall make an effort to sell the cryptocurrencies on your behalf at such time and price, and in such manner, as it determines.
Third parties. We may elect to execute any order and/or hold any fiat money and cryptocurrencies via third parties. Such third parties are not banks that hold their fiat money/virtual currency as a deposit. If any such third party loses any money, fails or goes out of business, there is no specific legal protection that covers you for losses arising from any funds you may have held with such third party, even when such party is registered with national authority. Depending on the structure and security of the digital wallet, some may be vulnerable to hacks, resulting in the theft of virtual currency or loss of customer assets. PlasmaPay will not be responsible in the event of losses caused by those third parties.
Limitation of liability
Except as expressly provided to the contrary in writing by us, the PlasmaPay Platform is provided on an “as is” and “as available” basis. PlasmaPay expressly disclaims, and the User waives, all warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement as to the PlasmaPay Platform, including the information, content and materials contained therein.
PlasmaPay is not liable for any breach of an obligation under the Terms where PlasmaPay is hindered or prevented from carrying out its obligations by any cause outside of our reasonable control. In no event shall PlasmaPay, its directors, shareholders, officers, members, employees, affiliates or agents be liable to the User for any special, direct, indirect or consequential damages, or any other damages of any kind, including but not limited to loss of use, loss of profits or loss of data, whether in an action in contract, tort including but not limited to negligence or otherwise, arising out of or in any way connected with the use of or inability to use the PlasmaPay Platform, including without limitation any damages that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from acts of god, communications failure, theft, destruction or unauthorized access to the PlasmaPay Platform, records, programs or services.
PlasmaPay does not assume any liability for negligent or willful misconduct of PlasmaPay’s directors, shareholders, officers, members, employees, affiliates or agents (or corresponding hierarchical level) and potential Users should not rely upon the PlasmaPay Platform or information provided by the same in deciding whether or not to use the PlasmaPay Platform. The Purchaser hereby holds harmless and indemnifies and keeps indemnified the PlasmaPay Platform and its officers and employees from and against all liabilities, costs and damages of any kind (including, for the avoidance of doubt, all legal expenses incidental thereto) which may be incurred by any of them and all actions or proceedings which may be brought by or against them.
PlasmaPay shall in no event be liable to the User by way of indemnity or by reason of any breach of the Terms or in tort or otherwise for loss of use of the assets or any part thereof or for loss of opportunity, loss of profit, or for any indirect, special or consequential loss or damage that may be suffered by the User in connection with the use of the PlasmaPay Platform or the website or the provision by PlasmaPay of the Services in connection with the same.
In no event shall our aggregate liability, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), product liability, strict liability or other theory, arising out of or relating to the use of and/or inability to use the PlasmaPay Platform exceed the amount of 500 USD (five hundred United States Dollars) during the 6 months immediately preceding the date of any claim giving rise to such liability. This limitation of liability is subject to the maximum liability cap set out in the Terms.
The User agrees to defend, indemnify, and hold us harmless, and each of our officers, directors, shareholders, members, employees, agents and affiliates, from any claim, demand, action, damage, loss, cost, or expense, including without limitation reasonable professional fees, arising out or relating to (a) the User’s use of, or conduct in connection with the PlasmaPay Platform; (b) the User’s violation of the Terms; or (c) the User’s violation of any rights of any other person or entity and we will have the right, in our sole discretion, to control any action or proceeding and determine whether we wish to settle it, and if so, on what terms.
At making a decision to copy a specific trader, account, portfolio and/or strategy, the User have considered the User’s entire financial situation including financial commitments and the User understand that using Social Trading service is highly speculative and that the User could sustain significant losses exceeding the amount used to copy a trader or traders. Information in relation to Social Trading provided by PlasmaPay is provided solely for informational purposes.
If you make investment decisions in reliance on information which is available on the website or as a result of the use of the Social Trading services, you do so at your own risk. PlasmaPay and its affiliates and their employees and agents are not investment or financial advisers and will not be liable for any losses that you may sustain.
You should not make any investment decision without first conducting your own research. you are solely and exclusively responsible for determining whether any investment, or strategy, or any other product or service is appropriate or suitable for you based on your investment objectives and personal financial situation.
Any past performance of our users, risk score, statistics, and any other information with respect to users appearing on our websites and applications are not indicative of future results and should be considered as hypothetical as more fully described below. It is important to understand that risk scores, statistical information and historical performance are not a guarantee of future performance.
When reviewing the portfolio, financial performance information, opinions or advice of another registered user, the User should not assume that the user is unbiased, independent or qualified to provide financial information or opinions. PlasmaPay does not guarantee any order including the placing of stop orders. Accordingly, regardless of the entry or closing designation, PlasmaPay does not guarantee that the trade will be filled at the order price/stop loss percentage and the User may lose more than the original amount used to copy such trader.
No aspect of the information and/or Social Trading service provided and/or made available on our websites is intended to provide or should be construed as providing, any investment, tax or other financial related advice of any kind. You should not consider any such content and/or any such feature to be a substitute for professional financial and/or investment advice. If you choose to engage in transactions based on content on the website and/or elect to copy specific traders and/or trades, then such decisions and transactions and any consequences flowing therefrom are your sole responsibility. While individual participants may offer investment advice or opinions and/or effect a transaction which may be subsequently copied by other traders, such advice, opinions or trades amount to nothing more than exchanges between persons who may be anonymous or unidentifiable or simply the execution of a trade by such traders.
PlasmaPay and its affiliates do not provide investment advice directly, indirectly, implicitly, or in any manner whatsoever by making such information and/or features available to you.