Privacy Policy

Effective Date: August 10, 2019

1. Introduction

1.1. Openmonet LTD (“We”, “Our”) is committed to protecting the privacy of the subjects (“You” or “User”) of personal data using the Openmonet website and services. This document (“Policy”) explains how we use your personal information. By Personal Data, We mean any information that We may collect, use, store, disclose and delete about You as an identified or identifiable person (each of which is defined herein as a “Processing”).

1.2. We do not collect personal data from children under 16 years of age. If you think that a child under the age of 16 has provided Us with personal data, please contact our care team.

1.3. This Policy applies only to the information we process. This Policy does not apply to activities of companies that We do not own or control, or to employees that We do not control. Information about Our services may include links to third party websites, and any information you provide to these websites will be covered by any privacy policies they may have. Be sure to review the privacy policies of any third party sites you visit.
1.4. We may update this Policy from time to time and notify you of changes to this Policy that affect your rights by email and/or by posting on our Openmonet.com website.

2. Your personal data and how we use it

2.1. In this section, we have outlined – the general categories of data and the types of personal data that We may Process; – the source of these personal data; – the purposes for which We may process Personal Data; and – the legal basis of the Processing.

2.2. We may process your personal identification information (“Personal Identification Information”). Personally identifiable information may include your full name, email address, username, user name, phone number, country of residence, date of birth, age, nationality, gender, utility bills, photographs and/or home address. You are the source of your Personal Identity Information. Personally Identifiable Information may be processed for the purposes of providing Our services, communicating with You, protecting Our users from illegal activities, complying with legal and regulatory requirements and assisting Us in preventing, detecting and investigating fraud, money laundering and/or other criminal activity or misuse of our service. Legal grounds for such processing: compliance with the agreement between you and us and/or taking steps to enter into such an agreement at your request, as well as the legitimate interests of Us and/or third parties to prevent, detect and investigate fraud, criminal activity and/or other abuse of our services and facilities. In addition, the processing of personal data is necessary to comply with the laws that apply to Openmonet, such as anti-money laundering and anti-terrorist financing laws.

2.3. We may process your formal identification information (“Formal identification information”). Formal identification information may include your full name, nationality, date of birth, gender, social security number, tax identification number, passport data, driver’s license data and/or national ID card data. The source of Formal Identification Information is you. The purpose of Formal Identification Information is to protect Our users from illegal activities, comply with legal and regulatory requirements and assist in preventing, detecting and investigating fraud, money laundering and/or other criminal activity or abuse of Our service. We must verify the identity of Our regular customers using Our services and verify the identity of Our customers in certain other situations in order to comply with anti-money laundering and anti-terrorist financing laws. In addition, the processing of Formal Identification Information will help us to provide a more reliable, secure and reliable transaction experience for our clients. The legal basis for such processing is compliance with the legal obligations that apply to Openmonet, namely compliance with anti-money laundering and counter-terrorist financing laws and the legitimate interests of Us and/or third parties, such as the prevention, detection and investigation of fraud, criminal activity or other misuse of Our services.

2.4. We may process company information (“Company Information”). Company information may include information and documentation relating to the name, industry, property, registration, country of incorporation, business address and financial information of the company. Company information may also contain Personally Identifiable Information and Formal Identifiable Information relating to the account holder, beneficial owners and/or members of the board of directors of the company. Sources of Company Information are the owner of the company account, beneficial owners and/or members of the board of directors of the company. Company Information may be processed for the purposes of providing Our services, ensuring the security of our users and services, communicating with You and protecting Our users from illegal activities, complying with legal and regulatory requirements, as well as preventing, detecting and investigating fraud, money laundering and/or other criminal activities or misuse of Our service. Legal grounds for such processing: compliance with the agreement between us and/or taking steps to enter into such an agreement on your initiative, as well as the legitimate interests of Us and/or third parties, namely: prevention, detection, and investigation of fraud, criminal activity or other misuses of our services. In addition, the processing of Personal Data is necessary to comply with legal obligations that apply to Openmonet, namely, to comply with anti-money laundering and anti-terrorist financing laws.

2.5. We may process your financial and employment information (“Financial and Employment Information”). Financial information may include information relating to your income, status, bank account and/or tax identification. Employment information may include information and documentation related to the location of your office, job title and/or role description. The source of the Financial and Employment Information is you. Financial and Employment Information may be processed by Us to protect Our users from illegal activities, comply with legal and regulatory requirements, and assist Us in preventing, detecting and investigating fraud, money laundering and/or other criminal activity or abuse of our service. The legal basis for such processing is the legitimate interest of us and/or third parties to prevent, detect and investigate fraud, criminal activity or other misuses of the services and to comply with the legal obligations that apply to Openmonet, namely, to comply with anti-money laundering and anti-terrorist financing laws.

2.6. We may process your use of our website and services (“Usage Information”). Usage Information is primarily non-personally identifiable information typically provided by web browsers, servers and services such as Google Analytics, such as browser type, language preferences, referring site and time of each visit. Other non-personally identifiable information that We may have access to includes information about your use of Our services (e.g., search queries), your approximate location, the cookies set by Our website, etc. Information about your use may include: 1) Data that We collect primarily for behavioral analysis, business intelligence (“Analytical Information”). We collect data about your visit to our site using services such as Google Analytics. We collect event tracking data using various services, such as Mixpanel, which may also include your email address, IP address and country code. 2) Data that we collect primarily for technical, security, fraud prevention and/or bug tracking purposes (“Technical Information”). We collect data about errors in our site through services such as Sentry, which may sometimes provide Usage Information. We also record certain events about your activities on our site. The legal basis for the Processing of such information is the legitimate interest of Us and/or third parties, namely to monitor the quality of the service and the improvement of our site and services, and to prevent, detect and investigate fraud, criminal activity or other misuse of our services and to prevent security problems. In addition, the processing of personal data is necessary to comply with legal obligations that apply to Openmonet, namely, to comply with anti-money laundering and anti-terrorist financing laws.

2.7. We may process data relating to Transactions that you enter into through our website (“Transaction Information”). Transaction Information may include the transaction identifier, initiated transactions, the payment method, information about your advertisements, the buyer’s username, the seller’s name, the exchange rate and volume of the transaction in currency, the volume of the transaction in bitcoins, the currency of the transaction and the timestamps of the transaction events. The source of trading information is you and/or your exchange partner. Legal grounds for such processing: compliance with the terms of the agreement between you and us and with the legal obligations that Openmonet applies, namely, to comply with anti-money laundering and anti-terrorist financing laws and Our legitimate interests and/or those of third parties, namely, to prevent, detect and investigate fraud, criminal activity or other misuse of the services.

2.8. We may process data relating to Bitcoin Transactions relating to your Bitcoin Wallet (“Bitcoin Transaction Information”). Bitcoin transaction information may include timestamps, bitcoin amounts, transaction sending address, transaction identifier and other publicly available bitcoin blockchain data. The source of information about Bitcoin transactions is you and/or your trading partner. Legal grounds for such processing: Complying with the agreement between you and us and the legal obligations that apply to Openmonet, namely, to comply with anti-money laundering and anti-terrorist financing laws and our legitimate and/or third-party interests, namely, to prevent, detect and investigate fraud, criminal activity or other misuse of the services.

2.9. We may process information contained in or relating to any message that you send to Us or that you generate through our service (“Communication Information”). The Communication Information includes: 1) all of your messages and attachments sent to Our Customer Care Service and any communication that may occur during the course of a transaction dispute or by contacting Our Customer Care Service via chat rooms, email or any other communication tool; and 2) all of your messages and attachments that you create when you enter into transactions with other users or other data that you generate primarily from other users. Communication information may include your email address, username, IP address, full name, audio and video files, as well as photographs of the user’s credentials, user’s photographs, and photographs of the user’s utility bills or related documents. The source of communication information is you and/or your transaction partner. Communication information may be processed to contact you, maintain our internal records, handle and resolve transaction disputes, improve our customer service and improve our service. The legal basis for this processing is our legitimate interest, namely, to properly manage our website and business and to comply with the legal obligations that apply to Openmonet, namely, to comply with anti-money laundering and anti-terrorist financing laws.

2.10. We may process the information You provide to Us to subscribe to our email notifications, SMS notifications, messenger notifications and/or newsletters (“Notice Information”). The notification information may include your email address, telephone number, username, and full name. The notification information may be processed by us to send you relevant notices and/or newsletters. The legal basis for such processing is your consent (where required by law), the fulfillment of the agreement between you and us and our legitimate interest in communicating with our customers and conducting direct marketing if permitted by law without consent. You may unsubscribe at any time by contacting Us or clicking on the unsubscribe link in an email sent by Us.

2.11. In connection with the activities described above, We may conduct profiling based on your interaction with the content that you provide to Our service and/or information obtained from external services (described in Section 4). In some cases, automated processes may restrict or suspend access to our service if such processes detect activities that we believe may be illegal or pose a security or other risk to our service, our users or third parties. We process this information in accordance with the legal obligations that apply to Openmonet, namely, to comply with anti-money laundering and anti-terrorist financing laws and/or other applicable laws, and in connection with the legitimate interests of protecting our services; to prevent, detect and investigate fraud, criminal activity or other misuse of the services; and to optimize the products and services offered.

2.12. We may process any of your personal data when necessary to establish, administer or defend litigation, whether in or out of court. The legal basis for this processing is Our legal interests, namely the protection and defense of Our legal rights, your legal rights and the legal rights of others.

2.13. In addition to the categories of personal data and the purposes for which We may process your personal data as described in this Section 2, We may also, in certain situations, request and process information that may contain personal data if such processing is necessary to comply with the legal requirements and obligations to which We are subject or to protect your vital interests or the vital interests of another individual.

2.14. All of the above general data categories may contain data that do not identify you and therefore are not considered personal data.

2.15. Please try not to provide us with unnecessary personal data.

3. The information you choose to publicly display on our services

3.1. Some users may publish personal or confidential information about themselves during normal use of our services. This may happen through optional profile fields, in public forums, and on our website at openmonet.com, or if private communication has previously become public. Such information, which is voluntarily posted to public areas of our services, is considered to be publicly available, even if it would otherwise be considered personal or confidential. As such, it is not subject to the rules listed in this document because we have no control over such information. In addition, voluntarily publishing such information means that you lose any privacy rights you normally have with respect to the information. It can also increase your chances of receiving unwanted messages, such as spam.

3.2. Also remember that if you choose to provide personal information using certain publicly available features of our services, those reading such information may use or disclose it to others without our control and without your knowledge, and search engines may index the information. Therefore, we strongly encourage you to carefully consider including any specific information that you consider confidential, content that you create, or information that you provide through our services.

4. Providing your personal data to others

4.1. In this section 4, we set out – External Services (“Processors”) that We use to process Personal Data on Our behalf; – The types of personal data that Processors may process; – Reasons for using the Processors.

4.2. To verify the identity of Our Users, We use the technology of verifying the identity documents and biometric data of the person provided by Our contractors. The information Our contractors collect may include your full name, nationality, date of birth, gender, social security number, tax identification number, passport data, driver’s license data and/or national ID card data. In addition, the information that Our contractors collect may include your photo and/or video to identify the individual.

4.3. For behavioral analysis, business analytics and e-mail and messenger mailings We use services provided by our contractors. We use Google Analytics (“Google Analytics”), a company located in the United States, to analyze user behavior and business intelligence. The information We may provide to Our contractors may include your email address, IP address and country code, and this information is used by Our contractors to obtain information about Your use of Our service. The data we may provide to Google Analytics may include your IP address, and this data is used by Google Analytics to obtain information about your use of our service.

4.4. We use our contractors’ services to track server bugs. These bug reports are rare, but may contain your IP address. Server error tracking is used to monitor and correct errors and failures.

4.5. We use the services provided by our contractors to process notification information and deliver e-mails to users.

4.6. In addition to the specific disclosures of personal data set out in this Section

4.7. We may also disclose your personal data 1) Our auditors, lawyers, accountants, consultants, and other professional experts, if it is reasonable and necessary to obtain professional knowledge, advice or settlement of legal disputes and risks; 2) to external services where such disclosure is necessary to comply with the legal obligations to which we are subject or to protect your vital interests and/or the vital interests of a third party.

5. International transfers of your personal data

5.1. We store your information mainly within the European Economic Area. However, some of the features and requirements of the services include the transfer of your information to third-party service providers outside the European Economic Area. If such service providers are not located in a country that provides an adequate level of protection under Regulation (EC) 2016/679, such as the United States, transfers will be covered by standard European Commission data protection regulations or other relevant security mechanisms such as the Privacy Shield Framework.

6. Saving and deleting personal data

6.1. This section 6 sets out Our data retention and deletion policies which are designed to help Us meet our legal obligations regarding the right of the user to be forgotten.

6.2. Personal data that We process for any purpose or task must not be stored longer than necessary for that purpose or task.

6.3. Users may request the deletion of their account through our website.
6.4. We store and delete your personal data as follows For all users who have deleted their account: – Analysts’ personal data will be deleted 14 days after the account is deleted. – These notifications are not normally stored by our Processors, but they may retain activity logs for a short period of time (this time varies depending on the Processor in question, but does not exceed 13 months). All personal data about Users who have not conducted or initiated any transactions or operations with bitcoins on their purse, we delete 14 days after approval of your request to delete your account. For users who have made or initiated any transactions or sent or received any bitcoin transactions using their wallet and whose account deletion request has been approved by us, our data deletion policy is as follows – Your advertisements will be hidden 14 days after your account is deleted. – Your Personally Identifiable Information, Officially Identifiable Information, Company Information, Financial and Employment Information, Transaction Information, Technical Information and Communication Information will be deleted 5 years after deleting your account. – Bitcoin transaction information will be deleted from our internal systems 5 years after your account is deleted, except for publicly available Bitcoin information.

6.5. In some cases, we cannot specify in advance the periods during which your personal data will be stored. In such cases, We will determine the retention period based on the period in which We need to access the data to provide services, obtain payment, resolve your problem as part of technical support or other problems or for any other audit or legal reasons.

6.6. Notwithstanding the other provisions of this Section 6, We may retain your personal data if such retention is necessary to comply with the legal obligations to which We are subject or to protect your vital interests or the vital interests of another individual.

7. Your rights

7.1. In this section 7, we have summarized the basic rights that you have under the data protection laws. Some rights are complex, may contain limitations depending on the legal basis for data processing and not all details have been included in our summary. Accordingly, you should read the relevant laws and regulations from the regulatory authorities to fully explain these rights.

7.2. your fundamental rights under the data protection laws: (a) Right of access; You have the right to confirm whether and where We process your personal data. Provided that the rights and freedoms of others are not affected, We will provide you with a copy of your personal data. The first copy will be provided free of charge, but additional copies may incur reasonable fees. You can view and copy your personal information on your account settings page.

(b) Right to reparation; You have the right to correct any inaccurate personal data about you and, subject to the purpose of processing, to complete any incomplete personal data about you.

(c) Right to be removed; You have the right to delete your personal data. We have described our policy on storing and deleting personal data in section 6 above.

(d) Right to object to processing; You have the right to object to Our processing of Your personal data on a case-by-case basis, but only to the extent that the legal basis for the processing is not that the processing is necessary for the performance of the task performed for the exercise of any official powers vested in Us or for the purposes of legal obligations arising out of anti-money laundering and anti-terrorist financing laws or our legitimate interests and/or the legitimate interests of third parties. If you object, We will stop processing your personal data unless We can demonstrate a compelling legal basis for processing it, which prevails over your interests, rights, and freedoms, or if the processing is intended to establish, enforce or protect against legal action.

(d) Right to object to processing; You have the right to object to Our processing of Your personal data on a case-by-case basis, but only to the extent that the legal basis for the processing is not that the processing is necessary for the performance of the task performed for the exercise of any official powers vested in Us or for the purposes of legal obligations arising out of anti-money laundering and anti-terrorist financing laws or our legitimate interests and/or the legitimate interests of third parties. If you object, We will stop processing your personal data unless We can demonstrate a compelling legal basis for processing it, which prevails over your interests, rights, and freedoms, or if the processing is intended to establish, enforce or protect against legal action.

(e) Right to data portability; To the extent that we are legally entitled to process your personal data on the basis of consent, and such processing is carried out by automated means, you have the right to receive your personal data from us in a structured, widely used and machine-readable format. However, this right does not apply where it may affect the rights and freedoms of others.

(f) The right to file complaints with the oversight body; If you believe that our processing of your personal data violates data protection laws, you have the legal right to file a complaint with the data protection authority.

(g) Right of withdrawal of consent; To the extent that the legal basis for Us to process your personal data is consent, you have the right to revoke this consent at any time. The revocation will not affect the legality of the procedure before the revocation.

7.3. Without prejudice to the foregoing, if We have a reasonable doubt as to the identity of the user exercising the rights referred to in Section 7.2 or if We consider it necessary for security reasons, We may request additional information or otherwise use all reasonable measures necessary to verify the identity of the user.

7.4. You may exercise all your rights with respect to your personal data by contacting our customer care service. With respect to the “Rights of Deletion”, users may also request the deletion of their account through our website.

(a) What are cookies In accordance with common practice on almost all professional websites, our site uses cookies, which are tiny files that are stored in your web browser, to improve performance and include certain features such as authentication. This section describes what information they collect, how We use it and why We sometimes need to store these cookies. We will also share information about how you can prevent these cookies from being stored, but this may result in some elements of the functionality of the sites being reduced or broken. Cookies can be either “persistent” or session cookies: persistent cookies are stored in your web browser and remain valid until a set expiration date if you do not delete them before they expire; session cookies, on the other hand, expire at the end of your session when your web browser is closed. Cookies generally do not contain any personally identifiable information, but the personal information we store about you may be linked to the information stored in and derived from cookies. For more general information about cookies, see Wikipedia article about HTTP cookies.

(b) The cookies that We use If you create an account with us, we will use cookies to manage your registration and authorization process, general administration and to prevent abuse and misuse of our services. We use cookies when you log in to remember this fact. This eliminates the need for you to login each time you visit a new page. These cookies are usually deleted or cleared when you log out to ensure that you can only access limited features and areas when you log in. When you send data via a form similar to that found on contact pages or comment forms, cookies may be set to remember you as a user for future correspondence. In order to provide you with the best experience on our site, we provide the functionality to set your preferences regarding how our site should work when you use it. In order to remember your preferences, we need to set cookies so that this information can be called up whenever you interact with a page that is affected by your preferences.

(c) Cookies used by Our service providers We use Google Analytics to analyze your use of our website. Google Analytics collects information about your use of the website by using cookies. The information collected about our website is used to generate reports about your use of our website and how we can improve your experience with it. These cookies may track settings such as the time spent on the site and the pages you visit. Google’s privacy policy can be found at: https://www.google.com/policies/privacy/ In addition, the Cloudflare service will add a security cookie to any domain or subdomain that is proxied by our service.

(d) Managing cookies You can prevent the installation of cookies by changing your browser settings (see your browser’s help for this). Disabling cookies will disable most of the features and functionality of our site. Therefore, it is recommended that you do not disable cookies.

9. How to Contact Us

9.1. Your personal data is the responsibility of Openmonet LTD Hong Kong. If you have any questions about this Privacy Policy, your rights and/or our data collection practices, please contact our customer care team at care@openmonet.com