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This Privacy Policy aims to provide you with clear and comprehensive information about how BeatusFi, including any of our subsidiaries (“BeatusFi,” “we,” “us,” and “our”), collects, utilizes, and shares your personal information in connection with our digital platforms and initiatives. Additionally, it outlines your rights concerning your personal information and how you can exercise them. If you have additional questions or require more information about our Privacy Policy, do not hesitate to contact us. This Privacy Policy applies only to our online activities and is valid for visitors/users of our platforms with regards to the information that they shared and/or collect in BeatusFi. This policy is not applicable to any information collected offline or via channels other than our platforms.
1. CONSENT
By using our platforms, you hereby consent to our Privacy Policy and agree to its terms.
2. SCOPE
This Privacy Policy is applicable to personal information processed by us through our websites, mobile applications, and any other services or interfaces we own or control that are linked to this policy (collectively referred to as the “Services”).
3. CHANGES TO OUR PRIVACY POLICY
We reserve the right to amend this Privacy Policy at our discretion and at any time. Should any significant changes occur, we will notify you as mandated by applicable law. We encourage you to review this Privacy Policy periodically to stay informed about how we are protecting your information. Your continued use of the Services following the implementation of changes will constitute your acceptance of the updated Privacy Policy.
4. YOUR PRIVACY CHOICES AND RIGHTS
Your control over your personal information is important to us. Depending on the laws applicable to you, you may have certain rights concerning your information:
To exercise any of these rights, please reach out to us through the contact information provided below. We commit to processing such requests in accordance with applicable laws.
5. INFORMATION WE COLLECT
The personal information that you are asked to provide, and the reasons why you are asked to provide it, will be made clear to you at the point we ask you to provide your personal information. If you contact us directly, we may receive additional information about you such as your name, email address, phone number, the contents of the message and/or attachments you may send us, and any other information you may choose to provide. When you register for an Account, we may ask for your contact information, including items such as name, company name, address, email address, and telephone number.
6. HOW WE USE OUR INFORMATION
Your personal information is an essential part of our ability to provide and enhance our Services. We may share your information with third parties under certain circumstances as outlined below:
6.1. To Facilitate Our Services
6.2. For Protection and Compliance
We may disclose information if we believe it necessary to comply with legal obligations, protect rights and safety, enforce our terms, or address fraud, security, or technical issues.
6.3. Business Transitions
In events like mergers or asset sales, your personal information may be part of the transferred assets.
BeatusFi follows a standard procedure of using log files. These files log visitors when they visit our platforms. All hosting companies do this and a part of hosting services' analytics. The information collected by log files include internet protocol (IP) addresses, browser type, Internet Service Provider (ISP), date and time stamp, referring/exit pages, and possibly the number of clicks. These are not linked to any information that is personally identifiable. The purpose of the information is for analyzing trends, administering the site, tracking users' movement on the platforms, and gathering demographic information.
7. ADVERTISING PARTNERS PRIVACY POLICIES
You may consult this list to find the Privacy Policy for each of the advertising partners of BeatusFi. Third-party ad servers or ad networks uses technologies like cookies, JavaScript, or Web Beacons that are used in their respective advertisements and links that appear on BeatusFi, which are sent directly to users' browser. They automatically receive your IP address when this occurs. These technologies are used to measure the effectiveness of their advertising campaigns and/or to personalize the advertising content that you see on platforms that you visit. Note that BeatusFi has no access to or control over these cookies that are used by third-party advertisers.
8. THIRD PARTY PRIVACY POLICIES
BeatusFi's Privacy Policy does not apply to other advertisers or platforms. Thus, we are advising you to consult the respective Privacy Policies of these third-party ad servers for more detailed information. It may include their practices and instructions about how to opt-out of certain options. You can choose to disable cookies through your individual browser options. To know more detailed information about cookie management with specific web browsers, it can be found at the browsers' respective platforms.
9. INTERNATIONAL DATA TRANSFERS
We acknowledge that our users come from across the globe, and thus, your personal information may be processed, transferred to, and stored in countries outside of your own, where data protection laws may differ. Our commitment to protecting your information involves taking necessary measures to ensure your data is handled securely, in line with applicable laws.
For personal information originating from the European Economic Area (EEA), the United Kingdom, or Switzerland, transferred to countries not recognized as providing an adequate level of data protection, we implement suitable safeguards, such as standard contractual clauses approved by the European Commission or other mechanisms recognized by relevant authorities, including the Romanian data protection authority. These measures ensure that your data is protected according to this Privacy Policy, EU GDPR, UK GDPR (where applicable), and relevant laws.
For specifics about the safeguards we apply to international data transfers, please reach out through the contact information provided at the end of this policy.
10. RETENTION OF PERSONAL INFORMATION
Your personal information is retained only as long as necessary for the purposes it was collected for, including for the provision of our Services, compliance with legal obligations, and resolution of disputes. The criteria used to determine the retention periods include the legal statute of limitations, the nature and sensitivity of the information, potential risk from unauthorized use or disclosure, and applicable legal requirements.
11. SECURITY OF PERSONAL INFORMATION
To safeguard your personal information, we employ suitable technical and organizational measures. These are designed to protect data against unauthorized access, alteration, disclosure, or destruction and ensure its integrity and confidentiality. Our security practices are regularly reviewed and enhanced as necessary.
12. CHILDREN'S INFORMATION
Our Services are not targeted at children under the age of 18 (or other age as stipulated by local laws), and we do not knowingly collect data from children. If you believe your child has provided us with personal information without consent, please contact us. We will promptly delete any such information, barring any legal requirement to retain it.
13. DELETION OF ACCOUNT AND DATA RETENTION
When you choose to delete your BeatusFi account, we ensure your data privacy is upheld as our foremost priority. Upon the receipt of an account deletion request, we immediately begin the process to remove your personal information from our systems.
Your data, once deleted, is permanently erased from our databases and backup systems in accordance with our data deletion procedures and data retention policy. We adhere to stringent standards to prevent any accidental loss or unauthorized access of your personal information.
BeatusFi does not retain any copies of your information after your account deletion, except as required by law or to satisfy our legal obligations.
14. RE-REGISTRATION WITH PREVIOUSLY DELETED INFORMATION
In line with our commitment to your privacy and data security, if you decide to re-register with BeatusFi, you must do so as a new user. We will not allow for the reuse of personal information that has been previously deleted. You will be required to provide your information afresh during the re-registration process. This is to ensure that we respect the choices you make about your data and to prevent any potential misuse of previously deleted information.
ANTI MONEY LAUNDERING POLICY
Money laundering is the attempt to conceal or disguise the nature, location, source, ownership or control of illegally obtained money. Money laundering is most commonly associated with tax avoidance, participating in a criminal group or racketeering, currency counterfeiting, forgery bribery.
However, individuals may attempt to launder money in order to conceal their identity or finance their operations. ‘Suspicious activity or transactions’ can not be defined as it can vary on a transaction basis it can however be described to include; transactions which are structured to avoid reporting and record keeping requirements; altered or false identification or inconsistent information or any transaction involving criminal activity in the Company’s view; entity that belongs to a person or organization considered as a terrorist; nature of transaction and frequency of deposits/withdrawals.BeatusFi is committed to fighting money laundering and complying fully with Anti-Money Laundering laws in Nigeria. We understand that we have responsibilities to help fight the global battle against money laundering and our commitment will supersede all other privacy obligations contained in our policies. Accordingly, BeatusFi will take all reasonable and appropriate steps to prevent persons engaged in money laundering, fraud, or other financial crimes from utilizing our products and services. Our AML policies, procedures and internal controls are designed to ensure compliance with all applicable BSA regulations and FINRA rules and will be reviewed and updated on a regular basis to ensure appropriate policies, procedures and internal controls are in place to account for both changes in regulations and changes in our business. Key components of our AML and CTF framework include the following:
15.1. COMPLIANCE OFFICER
Coordinating and monitoring day-to-day compliance with the relevant legislation, regulations, rules and industry guidance and applicable money laundering laws and regulations Monitoring transactions to detect unusual suspicious activities Prompt preparation and delivery of all relevant returns to the regulatory bodies in line with SEC and FIU Rules and Regulations Communicating AML/CFT issues to all stakeholders
15.2. RISK COMMITTEE
The appointment of an independent risk committee which reports to our board of directors regularly on all risk and compliance matters using a risk-based approach to the assessment and management of money laundering and terrorist financing risks and Comply with the requirements of the Money Laundering (Prohibition) Act, 2011 (as amended), Terrorism (Prevention) Act, 2011 (as amended) and Terrorism Prevention (Freezing of International Terrorists Funds and other Related Measures) Regulations 2013, including related laws and Regulations
15.3. INTERNAL CONTROL
Formulate and implement internal controls and other procedures that will deter criminals from using its facilities for money laundering and terrorist financing and to ensure that its obligations under subsisting laws and Regulations are met
15.4. KNOW YOUR CUSTOMER
Establishing and maintaining a risk-based approach to Customer Due Diligence (CDD), including customer identification, verification and KYC procedures. To ensure we meet these standards, our customers are required to provide certain personal details when opening an account with BeatusFi and also generate tokens, OTP and PIN for any withdrawal request. The nature, and extent, of what is required is guided by the customer’s deposit and withdrawal limits, account to be used and in some cases, the customer’s country of residence. In certain circumstances, BeatusFi may perform enhanced due diligence procedures for customers presenting a higher risk, such as those transacting large volumes etc. Maintaining appropriate KYC records for the minimum prescribed periods;
BeatusFi shall ensure timely and accurate rendition of all AML/CFT returns as specified in the SEC AML/CFT Rules and Regulations as well as other relevant Regulations/Act/Guidelines/Circulars that may be issued from time to time by various government agencies. We shall exercise due diligence in identifying and reporting a suspicious transaction.
BeatusFi shall also create awareness amongst its employees on AML/CTF through a robust training program on the framework.
16. COMPLAINTS
Should you have concerns regarding our handling of your personal information, please feel free to contact us directly. Additionally, individuals in the European Economic Area (EEA) have the right to lodge a complaint with their local data protection authorities (DPAs) if they believe their data has not been processed in accordance with the GDPR and applicable data protection laws.
17. CONTACT US
Please note that these measures are a part of our strict privacy norms aimed at respecting user privacy, and ensuring data security, integrity, and confidentiality. For questions about this Privacy Policy, our privacy practices, or if you wish to exercise your privacy rights, please contact us at: info@BeatusFi.com.
Last updated: 20.04.2024
