1. Introduction
polarbit solutions limited ("polarbit", "we", "us", or "our") is committed to protecting the privacy and security of your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our services or visit our website at polar-bit.com.
We are subject to Canada's Personal Information Protection and Electronic Documents Act (PIPEDA), British Columbia's Personal Information Protection Act (PIPA), and applicable provincial privacy legislation.
2. Information We Collect
Personal Information
We may collect the following categories of personal information:
- Identity Information: Full legal name, date of birth, nationality, government-issued identification numbers and documents
- Contact Information: Email address, phone number, mailing address, business address
- Financial Information: Bank account details, payment card information, transaction history, source of funds
- Business Information: Company name, registration number, business type, beneficial ownership details
- Technical Information: IP address, browser type, device information, cookies, and usage data
How We Collect Information
- Directly from you when you apply for our services, submit forms, or communicate with us
- From third-party verification services during KYC/KYB processes
- Automatically through cookies and similar technologies when you visit our website
- From publicly available sources for due diligence and compliance purposes
3. How We Use Your Information
We use your personal information for the following purposes:
- To provide and manage our financial services
- To verify your identity and conduct KYC/KYB checks as required by law
- To process transactions and maintain transaction records
- To comply with our legal and regulatory obligations, including FINTRAC reporting requirements
- To detect and prevent fraud, money laundering, and terrorist financing
- To communicate with you about our services, updates, and promotional offers
- To improve our services, website, and customer experience
- To respond to your inquiries and provide customer support
4. Legal Basis for Processing
We process your personal information based on the following legal grounds:
- Contractual Necessity: To perform our obligations under our service agreements with you
- Legal Obligations: To comply with PCMLTFA, FINTRAC regulations, and other applicable laws
- Legitimate Interests: To operate and improve our business, prevent fraud, and ensure security
- Consent: Where required, we obtain your consent before collecting or using your information
5. Information Sharing and Disclosure
We may share your personal information with:
- Regulatory Authorities: FINTRAC, law enforcement, and other regulatory bodies as required by law
- Banking Partners: Financial institutions that facilitate our payment services
- Service Providers: Third-party vendors who assist with KYC verification, fraud detection, cloud hosting, and other operational services
- Professional Advisors: Legal, accounting, and compliance advisors
We do not sell your personal information to third parties. We require all third-party service providers to respect the security of your personal information and to treat it in accordance with applicable law.
6. Data Retention
We retain your personal information for as long as necessary to fulfill the purposes for which it was collected, including to satisfy legal, regulatory, accounting, or reporting requirements. Under FINTRAC regulations, we are required to retain certain records for a minimum of five years.
7. Data Security
We implement appropriate technical and organizational measures to protect your personal information, including:
- 256-bit SSL TLS encryption for data in transit
- AES 256 encryption for data at rest
- Multi-factor authentication for account access
- Regular security assessments and penetration testing
- Employee access controls and confidentiality obligations
- Physical security measures at our data centres
8. Your Rights
Under Canadian privacy law, you have the right to:
- Access your personal information held by us
- Request correction of inaccurate or incomplete information
- Withdraw consent for certain processing activities
- Request deletion of your personal information (subject to legal retention requirements)
- File a complaint with the Office of the Privacy Commissioner of Canada
9. Cookies and Tracking Technologies
Our website uses cookies and similar technologies to enhance your browsing experience, analyze site usage, and assist in our marketing efforts. You can control cookie preferences through your browser settings.
10. International Data Transfers
Your personal information may be transferred to and processed in countries other than Canada. When we transfer your information internationally, we ensure appropriate safeguards are in place to protect your personal information in accordance with applicable privacy laws.
11. Changes to This Policy
We may update this Privacy Policy from time to time. We will notify you of any material changes by posting the new Privacy Policy on our website and updating the "Last updated" date.
12. Contact Us
If you have questions about this Privacy Policy or our privacy practices, please contact us:
Email: support@polar-bit.com
Phone: +1 (236) 613 3935
Address: polarbit solutions limited, #700 838 W Hastings Street, Vancouver, BC V6C 0A6, Canada