Privacy policy

Last revised: 01 Oct 2018

SociumNet Ltd. (hereinafter - “we”, “us” and “our”) value the privacy of visitors to our websites. To ensure transparency, this Privacy Policy describes our information handling practices when you access content we own or operate on the websites located at sociumtrade.com , or any other websites, pages, features, or content we own or operate (collectively, the "Website(s)").
Acknowledge yourself with this Privacy Policy carefully. If you have any questions about this Privacy Policy, please contact us at [email protected]

Acceptance of Privacy Policy

By accessing and using our Website, you signify acceptance to the terms of this Privacy Policy. Where we require your consent to process your personal information, we will ask for your consent to the collection, use, and disclosure of your personal information as described further below. If you do not agree with any aspect of this Privacy Policy, you should immediately discontinue access or use of our Website.

Changes to Privacy Policy

We reserve the right to modify this Privacy Policy at any time, and when required by law, we will notify you of changes to this Privacy Policy. If we make any material changes we will notify you by email (sent to the e-mail address specified in your account) or by means of a notice on our Website prior to the change becoming effective.

Information about SociumNet Ltd.

SociumNet, Ltd is a private limited company incorporated in Malta with company number C86095 and whose registered office is 83, St. Paul’s street, Valleta, Malta.

SociumNet will be conducting a Token sale and then developing SociumTrade project as described on the Website, Token sale agreement and Whitepaper.

The personal information we collect

Personal information is data that can be used to identify you directly or indirectly, or to contact you. Our Privacy Policy covers all personal information that you voluntarily submit to us and that we obtain from our partners. This Privacy Policy does not apply to anonymised data, as it cannot be used to identify you.

SociumNet may share your personal information with companies directly connected to SociumNet or its third party services providers (for example KYC/AML services provider) and use it consistent with this Privacy Policy. They may also combine it with other information to provide and improve our products, services, and content (see the section below).

Except as described in this Privacy Policy, SociumNet will not give, sell, rent or loan any personal Information to any third party.

Personal information collected

We collect personal information to allow you to participate in our Token sale. When we require certain personal information from users it is because we are required by law to collect this information or it is relevant for specified purposes. Any information you provide to us that is not required is voluntary. You are free to choose whether to provide us with the types of personal information requested, but we may not be able to serve you as effectively or offer you all of our services when you do choose not to share certain information with us.

For example, we collect personal information which is required for our KYC/AML services provider to verify your identity. We also collect personal information when you use or request information about our Token sale, subscribe to marketing communications, request support, complete surveys, etc. We may also collect personal information from you offline, for example when you contact our customer support.

We collect the following types of information:

  • Personal Identification Information: Full name, date of birth, age, nationality, gender, signature, utility bills, photographs, phone number, home address, and/or email.
  • Formal Identification Information: Tax ID number, passport number, national identity card details, photograph identification cards.
  • Financial Information: Bank account information, payment card primary account number (PAN), transaction history, trading data, and/or tax identification.
  • Online Identifiers: Geo location/tracking details, browser fingerprint, OS, browser name and version, and/or personal IP addresses.
  • Usage Data: Survey responses, information provided to our support team, public social networking posts, authentication data, security questions, user ID, click-stream data and other data collected via cookies and similar technologies.

Individual Rights

When we receive an individual rights request via email we may take steps to verify your identity before complying with the request to protect your privacy and security.

  • Right to withdraw consent. You have the right to withdraw your consent to the processing of your personal information collected on the basis of your consent at any time. Your withdrawal will not affect the lawfulness of data processing based on consent before your withdrawal.
  • Right of access to and rectification of your personal information. You have a right to request that we provide you a copy of your personal information held by us. This information will be provided without undue delay subject to some fee associated with gathering of the information (as permitted by law), unless such provision adversely affects the rights and freedoms of others. You may also request us to rectify or update any of your personal information held by us that is inaccurate. Your right to access and rectification shall only be limited where the burden or expense of providing access would be disproportionate to the risks to your privacy in the case in question, or where the rights of persons other than you would be violated.
  • Right to erasure. You have the right to request erasure of your personal information that: (a) is no longer necessary in relation to the purposes for which it was collected or otherwise processed; (b) was collected in relation to processing that you previously consented, but later withdraw such consent; or (c) was collected in relation to processing activities to which you object, and there are no overriding legitimate grounds for our processing. The above is subject to limitations by relevant data protection laws.
  • Right to data portability. If we process your personal information based on a contract with you or based on your consent, or the processing is carried out by automated means, you may request to receive your personal information in a structured, commonly used and machine-readable format, and to have us transfer your personal information directly to another “controller”, where technically feasible, unless exercise of this right adversely affects the rights and freedoms of others. A “controller” is a natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of your personal information.
  • Right to restriction of or processing. You have the right to restrict or object to us processing your personal information where one of the following applies:
    1. You contest the accuracy of your personal information that we processed. In such instances, we will restrict processing during the period necessary for us to verify the accuracy of your personal information.
    2. The processing is unlawful and you oppose the erasure of your personal information and request the restriction of its use instead.
    3. We no longer need your personal information for the purposes of the processing, but it is required by you to establish, exercise or defense of legal claims.
    4. You have objected to processing, pending the verification whether the legitimate grounds of SociumNet processing override your rights.
  • Notification of erasure, rectification and restriction. We will communicate any rectification or erasure of your personal information or restriction of processing to each recipient to whom your personal information have been disclosed, unless this proves impossible or involves disproportionate effort. We will inform you about those recipients if you request this information.
  • Right to object to processing. Where the processing of your personal information is based on consent, contract or legitimate interests you may restrict or object, at any time, to the processing of your personal information as permitted by applicable law. We can continue to process your personal information if it is necessary for the defense of legal claims, or for any other exceptions permitted by applicable law.
  • Automated individual decision-making, including profiling. You have the right not to be subject to a decision based solely on automated processing of your personal information, including profiling, which produces legal or similarly significant effects on you, save for the exceptions applicable under relevant data protection laws.
  • Right to lodge a complaint. If you believe that we have infringed your rights, we encourage you to contact us first at [email protected] so that we can try to resolve the issue or dispute informally. You can also complain about our processing of your personal information to the relevant data protection authority. You can complain in the EU member state where you live or work, or in the place where the alleged breach of data protection law has taken place.
  • Storage of your personal information. We will try to limit the storage of your personal information to the extent that storage is necessary to serve the purpose(s) for which the personal information was processed, to resolve disputes, enforce our agreements, and as required or permitted by law.
  • Data Protection Officer: You may reach the Data Protection Officer at [email protected]

Your rights to personal information are not absolute. Access may be denied when:

  • Denial of access is required or authorized by law;
  • Granting access would have a negative impact on other's privacy;
  • To protect our rights and properties; and
  • Where the request is frivolous or vexatious.