Terms and conditions

Last updated: September 19, 2018

Please read these Terms and Conditions ("Terms", "Terms and Conditions") carefully before using the https://www.coinfarm.eu website (the "Service") operated by Coinfarm ("us", "we", or "our").

Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Service.

By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service.

Accounts

When you create an account with us, you must provide us information that is accurate, complete, and current at all times. Failure to do so constitutes a breach of the Terms, which may result in immediate termination of your account on our Service.

You are responsible for safeguarding the password that you use to access the Service and for any activities or actions under your password, whether your password is with our Service or a third-party service.

You agree not to disclose your password to any third party. You must notify us immediately upon becoming aware of any breach of security or unauthorized use of your account.

Links To Other Web Sites

Our Service may contain links to third-party web sites or services that are not owned or controlled by Coinfarm.

Coinfarm has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third party web sites or services. You further acknowledge and agree that Coinfarm shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such web sites or services.

We strongly advise you to read the terms and conditions and privacy policies of any third-party web sites or services that you visit.

Termination

We may terminate or suspend access to our Service immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.

We may terminate or suspend your account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach the Terms.

Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account, you may simply discontinue using the Service.

All provisions of the Terms which by their nature should survive termination shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability.

Governing Law

These Terms shall be governed and construed in accordance with the laws of Latvia, without regard to its conflict of law provisions.

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights. If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect. These Terms constitute the entire agreement between us regarding our Service, and supersede and replace any prior agreements we might have between us regarding the Service.

Changes

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material we will try to provide at least 30 days notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.

Payment by credit card

In case of payment by credit card if transaction amount reach 2000 EUR, it is necessary to perform a card verification procedure in your profile
After the payment has been made, a transaction check will be sent to your email, it will also be available under your active plan that was bought with a bank card on the cabinet main page

Anti-money laundering and counter terrorist financing

Our Anti-Money Laundering and Know Your Customer Policy (hereinafter - the “AML/KYC Policy”) are designated to prevent and mitigate possible risks of us being involved in any kind of illegal activity. Both international and local regulations require us to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity of our customers. AML/KYC Policy covers the following matters:


The Compliance Officer is the person, duly authorized by us, whose duty is to esure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officer`s responsibility to supervise all aspects of our anti-money laundering and counter-terrorist financing, including but not limited to:

Collecting customers identification information

The Compliance Officer is entitled to interact with law enforcement, which are involved in the prevention of money laundering, terrorist financing and other illegal activities.

Risk Assessment

We, in line with the international requirements, have adopted a risk-based approach to combating money laundering and terrorist financing. By adopting a risk-based approach, we are able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate with 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.

Monitoring Transactions

The customers are known not only by verifying their identity (who they are) but, more important, by analyzing their transactional patterns (what they do). Therefore, we rely on data analysis as a risk-assessment and suspicion detection tool. We perform a variety of compliance-related tasks, including capturing data, filtering, recordkeeping, investigation management, and reporting. System functionalities include: a) A 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 if it is essential, sending internal communications and filling out statutory reports, if applicable;
b) Case and document management.
With regard to the AML/KYC Policy, we will monitor all transactions and it reserves the right to:

The above list is not exhaustive and the Compliance Officer will monitor customers 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 bona fide.

Contact Us

If you have any questions about these Terms, please contact us.