Purpose of this Privacy Notice

We process your personal data in an appropriate and lawful manner, in accordance with the laws of the British Virgin Islands where IEI is incorporated.

This Notice aims to give information on how IEI collects and processes your personal data in the scenarios outlined above in the ‘Introduction’ (namely, through your use of the Site and Platform, including any data that you may provide to us or which we may receive).

The Site, the Platform and the Services are not intended for minors and we do not knowingly collect personal data relating to minors.

It is important that you read this Notice together with any other privacy notice or policy which we may provide on specific occasions when we are collecting or processing personal data about you so that you are fully aware of how and why we are using your data. This Notice supplements the other notices and is not intended to override them.

Controller

IEI is the controller and responsible for your personal data.

We have appointed a data protection officer (“DPO”) who is responsible for overseeing questions in relation to this Notice and our processing activities in general. If you have any questions or requests please contact the DPO using the details set out below.

Contact Details

Last Update and your Duty to Inform Us of Changes

This Notice was last updated on November 1, 2019.

It is imperative that the personal data we hold about you is accurate and current at all times. Otherwise, this will impair our ability to provide you with the Services that you may request from us (amongst other potential and salient issues). Please keep us informed if your personal data changes during your relationship with us.

Third-Party Links

Our Site may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy notices, statements or policies.

We encourage you to read the privacy notice of every website you visit.

Set out below are key definitions of certain data protection terms which appear in this Notice.

“Consent Form” refers to separate documents which we might from time to time provide you where we ask for your explicit consent for any processing which is not for purposes set out in this Notice.

“Data subjects” means living individuals (i.e. natural persons) about whom we collect and process personal data.

“Data controller” or “controller” means any entity or individual who determines the purposes for which, and the manner in which, any personal data is processed.

“Data processor” or “processor” means any entity or individual that processes data on our behalf and on our instructions (we being the data controller).

“Personal data” means data relating to a living individual (i.e. natural person) who can be identified from the data (information) we hold or possess. This includes, but is not limited to, your name and surname (including maiden name where applicable), address, date of birth, nationality, gender, civil status, tax status, identity card number & passport number, contact details (including mobile and home phone number and personal email address), photographic image, bank account details, emergency contact information as well as online identifiers. The term “personal information”, where and when used in this Notice, shall be taken have the same meaning as personal data.

“Processing” means any activity that involves use of personal data. It includes obtaining, recording or holding the data, or carrying out any operation or set of operations on the data including, organising, amending, retrieving, using, disclosing, erasing or destroying it. Processing also includes transferring personal data to third parties.

“Sensitive personal data”, “sensitive data” or “special categories of personal data” includes information about a person's racial or ethnic origin, political opinions, religious or similar beliefs, trade union membership, physical or mental health or condition or sexual life, or about the commission of, or proceedings for, any offence committed or alleged to have been committed by that person, the disposal of such proceedings or the sentence of any court in such proceedings. This type of sensitive data can only be processed under strict conditions.

Note that personal data does not include information relating to a legal person (for example, a company or other legal entity). In that regard, information such as a company name, its company number, registered address and VAT number does not amount to personal data in terms of both the Act and the GDPR. Therefore, the collection and use of information strictly pertaining to a legal person does not give rise to data controller obligations at law. We will still naturally treat any and all such information in a confidential manner, in accordance with our standard practices and professional secrecy obligations.

Personal data, or personal information, means any information about an individual from which that person can be identified (as stated above). It does not include data where the identity has been removed (anonymous data). In the course of your relationship with us (including during the account opening stage), we may collect, use, store and transfer different kinds of personal data about you which we have grouped together including but not limited to:

• Identity Data includes your first name, maiden name (where applicable), last name, address, username or similar identifier, marital status, title, nationality, date of birth, gender, identity card and/or passport number.

This will form part of your account information on the Platform.

• Contact Data includes your billing address, email address and contact number (telephone and/or mobile).
• Financial Data includes your bank account and payment card details.
• Transaction Data includes details about:
  • Your transfers, such as the nature of the transfer (e.g. whether it is to send or to receive), the transfer value and frequency of transfers
  • your transactional history on the Platform; and
  • the payments which you receive through us (e.g. withdrawals from your Account) or which we receive, or otherwise, charge you (e.g. our fees for your use of the Platform and our Services).
• AML and Risk Data includes the following due diligence / KYC information and documentation about you: (i) copy of I.D. card or passport, (ii) proof of residence (e.g. utility bill), (iii) source of funds and source of wealth, and (iv) criminal records check..
• Technical Data includes the IP address, your login data to the Platform (username and password), device type, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and other technology on the devices you use to access the Site and Platform.
• Usage Data includes information about how you use the Platform and our Services.
• Marketing and Communications Data includes your preferences in receiving marketing from us and our third parties and your communication preferences.

We also collect, use and share Aggregated Data such as statistical or demographic data for any purpose. Aggregated Data may be derived from your personal data but is not considered personal data in law as this data does not directly or indirectly reveal your identity. For example, we may aggregate your Usage Data to calculate the percentage of users accessing a specific feature of the Site and/or the Platform. However, if we combine or connect Aggregated Data with your personal data so that it can directly or indirectly identify you, we treat the combined data as personal data which will be used in accordance with this privacy notice.

If you Fail to provide Personal Data

Where we need to collect personal data about you:

• by law; or
• under the terms of, or in connection with, the contract that we have with you (as discussed in Section 1 above); or
• as part of our legitimate (business) interests to verify the identity of our applicants and clients, mitigate against risks (such as potential or suspected fraud) and in particular, to assess and take a decision on whether we will or should enter into a relationship with you (as subject to our client acceptance criteria and policies).

In certain instances, particularly where this relates to AML and Risk Data, we may even need to exercise our prerogative to terminate our contract with you, and thus withdraw the availability of our Services to you, or else, if still at application stage, we may have to decline to enter into a relationship with you. We will however notify you if this is the case at that point in time.

Sensitive Personal Data

We do not knowingly collect Special Categories of Personal Data (or Sensitive Personal Data) about you. Should we receive sensitive personal data about you, we will only process that data where there is a legitimate reason to do so and, in all circumstances, in accordance with our obligations at law and under the appropriate safeguards.

As set out below in Section 5, we collect and process AML and Risk Data in order to be able to (i) conduct our internal AML and KYC checks and due diligence on you, (ii) verify your identity or claimed identity (a due diligence step which is especially important for us due to the non face-to-face nature of our prospective relationship), (iii) identify any risks that you may present as a prospective customer for us and our Services, (iii) assess and determine your risk profile and capacity as an investor (“client risk assessment”), (iv) take a decision on whether we will or should enter into a relationship with you (based on this information that we collect) and (v) abide by any Court, regulatory or law enforcement orders.

(A) Account Registration and Opening.

We will ask you to provide us with your Identity, Contact, Financial and AML and Risk Data when you apply to register and open an account with us on our Platform (including at account finalisation stage). You provide these personal details and information to us, which we collect and process, when you fill in and submit our application form (together with other related forms), and complete our required application steps.

Your Account Data will be generated on the basis of your application, and is also processed and stored by us.

(B) Service Use.

Through your use of our Services, we collect, generate and compile your Financial and Transaction Data.

• In the case of transfers, you may need to provide us with full details about the transfer, including its nature and all other related instructions, in order for us to then be able to properly execute that transfer on your behalf. The Transaction Data relating to each of your transfers is recorded and compiled together so as to establish your transaction history.

• Furthermore, we generate, receive and process your Financial and Transaction Data when you request and receive withdrawals from your Account (including the withdrawal amount, its conversion into FIAT currency, your bank account details, and resultant changes to your Transaction Data), and when we charge and you pay any fees due to us in connection with your use of our Services.

Moreover, to act upon service requests, such as transfers of a certain volume, we may require you to provide us with further or supplementary AML and Risk Data (for instance, source of wealth information and documentation).

(C) Direct Interactions.

You may also give us your Identity, Contact, Financial, AML and Risk Data and Transaction Data by filling in our other forms (i.e. separate to our account opening and registration form), or by corresponding with us by post, phone, e-mail or otherwise. This includes personal data that you provide when you, as applicable:

• apply to open an account;
• update or edit your account details;
• subscribe to our Services;
• request withdrawals from your Account;
• contact us with complaints or queries;
• report issues;
• submit the (additional or supplementary) AML and Risk Data that we may request from you;
• request marketing to be sent to you;
• participate in a survey; or
• provide us with feedback.

(D) Automated Technologies or Interactions.

As you interact with the Platform and the Site, we may automatically collect Technical Data about your equipment, browsing actions and patterns. We collect this personal data by using cookies, server logs and other similar technologies.

(E) Third Parties or Publicly Available Sources.

We may receive personal data about you from various third parties and public sources, as set out below:

• Technical Data from the following parties:
• analytic providers such as Google Analytics;
• advertising networks such as Google, Facebook etc.
• search information providers such as Google, Yahoo etc.
• Identity, Contact, AML and Risk Data from publicly available sources court databases, credit reference databases, as well as through general online searches.

We will only use your personal data when the law allows us to. Most commonly, we will use your personal data in the following circumstances:

• where we need to perform the contract we are about to enter into or have entered into with you in respect of your customer relationship with us.
• where it is necessary for our legitimate interests (or those of a third party) and your interests and fundamental rights do not override those interests.
• where we need to comply with a legal or regulatory obligation.

Purposes for which we will Use your Personal Data

We have set out below, in a table format, a description of all the ways we plan to use your personal data, and which of the legal basis we rely on to do so. We have also identified what our legitimate interests are where appropriate. We may process your personal data for more than one lawful ground depending on the specific purpose for which we are using your data.

We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your personal data for our legitimate interests. We do not use your personal data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by contacting us at the following email address: info@ietransfer.com

Marketing

We strive to provide you with choices regarding certain personal data uses in relation to your account. Through your Account, Identity, Contact, Technical, Usage, and Marketing and Communications Data, we can form a view on what we think you may want or need. We will send you details as to how you may enhance your activity in relation to the account.

Provided that you have consented to the receipt of marketing communications and advertisements, we may provide you with such communications and advertisements (we call this marketing).

You may receive marketing communications from us (which may consist of newsletters, industry updates, mailshots, publications, promotional materials and/or information about our events) where:

• you have an ongoing commercial or contractual relationship with us (e.g. where we consider you to be an active customer and user of the Platform); and
• provided you have not opted out of receiving marketing from us (see Your right to object below).

Third-Party Marketing

We will get your express opt-in consent before we share your personal data with any third parties (including our associated or related corporate entities) for marketing purposes.

Opting Out

Where you have provided us with your consent to send you advertising and marketing communications, you can ask us to stop sending you such advertising and marketing communications at any time by:

• following the opt-out links on any marketing message sent to you;
• contacting us at any time at info@ietransfer.com

Where you opt out of receiving such communications, this will not apply to personal data processed or provided to us as a result of your entry into a customer relationship with us and our service provision.

Change of Purpose

We will only use your personal data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose, or we are obliged to process your data by applicable laws or court or other enforceable orders.

If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact us at info@ietransfer.com

If we need to use your personal data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.

Please note that we may process your personal data without the need to obtain your consent, in compliance with the above rules, where this is required or permitted by law.

We may have to share your personal data with the parties set out below for the purposes set out in the table in Section 5 above.

• External third parties.
• Suppliers and external agencies that we engage to process information on our and/or your behalf, including to provide you with the information and/or materials that you have requested.
• Our subsidiaries, associates and agents where necessary to facilitate your relationship with us and/or enable the provision of the Services that you have requested from us.
• The Commission for Revenue, regulators, law enforcement agencies and other authorities who require reporting of processing activities, or may request information from us, in terms of applicable law and in certain circumstances.
• Third parties to whom we may choose to sell, transfer, or merge parts of our business or our assets (successors in title). Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your personal data in the same way as set out in this Notice.

We require all third parties to respect the security of your personal data and to treat it in accordance with the law (including applicable data protection and privacy law). We do not allow our third party business partners or service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our documented instructions. Furthermore, these third parties access and process your data on the basis of strict confidentiality and subject to the appropriate security measures and safeguards.

We may also disclose your data if we are under a duty to disclose or share your personal data to comply with any legal obligation, judgment or under an order from a court, tribunal or authority.

We may also disclose your data to enforce our contractual terms against you, or to protect our rights, property or safety, and that of other users of the Platform and our Services. This includes exchanging information with other companies and organisations for the purposes of fraud protection.

We do not generally transfer your personal data to entities outside the European Economic Area (“EEA”) except as may be necessary to: (i) enable your use of the Platform, (ii) provide you with the requested Services, (iii) fulfil our contractual obligations to you or exercise our contractual obligations against you, (iv) comply with our legal or regulatory obligations or (v) assert, file or exercise a legal claim. Where we do need to transfer your personal data outside the EEA (whether for these stated purposes or any other purpose listed in Section 5 above), we will ensure a similar degree of protection is afforded to that personal data by ensuring at least one of the following safeguards applies or is otherwise implemented:

• We will only transfer your personal data to countries that have been deemed to provide an adequate level of protection for personal data by the European Commission.
• In the absence of an adequacy decision, we will use standard contractual clauses that have been approved by the European Commission.
• Where we use providers based in the U.S., we may transfer data to them if they are part of the Privacy Shield which requires them to provide similar protection to personal data shared between the Europe and the US.

Please contact us at info@ietransfer.com if you want further information on the specific mechanism used by us when transferring your personal data out of the EEA.

We have put in place appropriate security measures to prevent your personal data from being accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your personal data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your personal data on our instructions and they are subject to a duty of confidentiality.

We have put in place procedures to deal with any suspected personal data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.

How long will you use my personal data for?

Please note that we consider our relationship with you to be an ongoing and continuous customer relationship, until terminated

We will only retain your personal data for as long as necessary to fulfil the purposes we collected it for (i.e. the ongoing service provision) and, thereafter, for the purpose of satisfying any legal, accounting, tax and reporting requirements or obligations to which we may be subject and/or to the extent that we may also need to retain your personal data to be able to assert, exercise or defend possible future legal claims against or otherwise involving you.

By and large, our retention of your personal data shall not exceed the period of five (5) years from the date of the termination of your relationship with us (which would typically arise from the closure/de-registration of your account on the Platform). This period of retention enables us to use the data in question for the possible filing, exercise or defence of legal claims (taking into account the timeframe of applicable statutes of limitation and prescriptive periods). In certain cases though, we may need to retain your data for a period of up to ten (10) years in order to comply with applicable accounting and tax laws (this will primarily consist of your Transaction Data). In the event that IEI’s activities are held by competent legislators and regulators to amount to a ‘relevant activity’ at law, we will retain your AML and KYC Data for the duration of your business relationship with us and for a further period of two (2) years following its termination. We may need to revise this AML retention period in the event of applicable legal or regulatory developments, but we will notify you if this is the case at the time.

In some circumstances, you can ask us to delete your data. See below for further information.

Kindly contact our DPO for further details about the retention periods that we apply.

Data Minimisation

Whenever and to the extent possible, we anonymise the data which we hold about you when it is no longer necessary to identify you from the data which we hold about you (anonymous data). In some circumstances, we may even anonymise your personal data (so that it can no longer be associated with you) for research or statistical purposes, in which case we may use this information indefinitely without further notice.

Under certain circumstances, you have rights under data protection laws in relation to your personal data.

• Request access to your personal data.
• Request correction of your personal data.
• Request erasure of your personal data.
• Object to processing of your personal data.
• Request restriction of processing your personal data.
• Request transfer of your personal data.
• Right to withdraw consent.

If you wish to exercise any of the rights set out above, please contact us at info@ietransfer.com. These rights are explained below.

No Fee usually required

You will not normally have to pay a fee to exercise your data subject rights.

However, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive. Alternatively, we may refuse to comply with your request in the above circumstances.

What we may need from you

We may need to request specific information from you to help us confirm your identity and ensure your right to access your personal data (or to exercise any of your other data subject rights). This is a security measure to ensure that personal data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.

Time limit to Respond

We try to respond to all legitimate requests within the period of one month from receipt of the request.

Occasionally it may take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.

Your Legal Rights

You have the right to:

i. Request access to your personal data (commonly known as a “data subject access request”). This enables you to receive a copy of the personal data we hold about you and to check that we are lawfully processing it. You may send an email to info@ietransfer.com requesting information as the personal data which we process. You shall receive one copy free of charge via email of the personal data which is undergoing processing. Any further copies of the information processed shall incur a charge of € 10.00

ii. Right to information when collecting and processing personal data about you from publicly accessible or third party sources. When this take places, we will inform you, within a reasonable and practicable timeframe, about the third party or publicly accessible source from which we have collected your personal data.

iii. Request correction or rectification of the personal data that we hold about you. This enables you to have any incomplete or inaccurate data we hold about you corrected and/or updated, though we may need to verify the accuracy of the new data you provide to us. As mentioned, it is in your interest to keep us informed of any changes or updates to your personal data which occur during the course of your relationship with us.

iv. Request erasure of your personal data. This enables you to ask us to delete or remove personal data where:

• there is no good reason for us continuing to process it;
• you have successfully exercised your right to object to processing (see below);
• we may have processed your information unlawfully; or
• we are required to erase your personal data to comply with local law.

Note, however, that we may not always be able to comply with your request of erasure for specific legal reasons which will be notified to you, if applicable, at the time of your request. These may include instances where continued processing is necessary in order to be able to:

• comply with a legal or regulatory obligation to which we are subject; or
• establish, exercise or defence of legal claims.

v. Object to processing of your personal data where we are relying on a legitimate interest (or those of a third party) and there is something about your particular situation which makes you want to object to processing on this ground as you feel it impacts on your fundamental rights and freedoms. You also have the right to object where we are processing your personal data for direct marketing purposes (see Marketing in Section 5 above).

In some cases, we may demonstrate that we have compelling legitimate grounds to process your information which override your rights and freedoms.

vi. Request restriction of processing of your personal data. This enables you to ask us to suspend the processing of your personal data in the following scenarios:

• if you want us to establish the data's accuracy;
• where our use of the data is unlawful but you do not want us to erase it;
• where you need us to hold the data even if we no longer require it as you need it to establish, exercise or defend legal claims; or
• you have objected to our use of your data but we need to verify whether we have overriding legitimate grounds to use it.

vii. Request the transfer (data portability) of your personal data to you or to a third party. We will provide to you, or a third party you have chosen, your personal data in a structured, commonly used, machine-readable format. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to perform a contract with you.

ix. Withdraw consent at any time where we are relying on consent to process your personal data (which will not generally be the case). This will not however affect the lawfulness of any processing which we carried out before you withdrew your consent. Any processing activities that are not based on your consent will remain unaffected.

Kindly note that none of these data subject rights are absolute, and must generally be weighed against our own legal obligations and legitimate interests. If a decision is taken to override your data subject request, you will be informed of this by our data protection team along with the reasons for our decision.

We reserve the right to amend or revise this Notice in the future, particularly where we need to take into account and cater for any (i) business developments and/or (ii) legal or regulatory developments to using cryptocurrencies and virtual financial assets under applicable law.

Changes, revisions and amendments to this Notice will be duly notified to you.

If you have any questions regarding this Notice, or if you would like to send us your comments, please contact us today or alternatively write to us using the details on our website.