Privacy Policy

LamaTechnology El Salvador, S.A. de C.V. ("Lama", "we", "our") takes data privacy very seriously and recognizes the importance of protecting and respecting your personal data. This Privacy Policy describes our regulatory obligations and sets out Lama's privacy practices, including the information we collect, how we use, disclose, and/or transmit it, your rights, and key contact information. Lama takes all necessary measures to protect the private information entrusted to us by customers or users (interchangeably) and/or former users of our services.

This Privacy Policy applies to both individuals and legal entities that use Lama's services, referred to herein as users and/or customers. In the case of legal entities, this Policy must be accepted and signed by their legal representative, attorney-in-fact, or duly authorized person, who warrants that they have sufficient authority to bind the company under the terms set forth herein.

References to "you", "your information", "customer", and "user", and similar terms in this Policy shall include, as applicable, both the legal entity and the individuals associated with it, including legal representatives, attorneys-in-fact, shareholders, beneficial owners, and authorized persons.

Lama is a company registered and incorporated in El Salvador, with company number 2025126135 and registered office at Avenida la Revolución, #6, 25, Colonia San Benito, Presidente Plaza, Distrito San Salvador, municipio de San Salvador Centro, departamento de San Salvador. By visiting this website or providing your personal information to one of our employees, for example by email, you accept and expressly authorize us to use and disclose your personal information and to use it in the manner described in this Privacy Policy.

This Privacy Policy shall be considered an integral part of Lama's Terms of Service.

1. What Information We Collect

1.1. Information We May Collect From You

We need to collect personal information about you in order to provide you with our services or appropriate assistance. We collect such personal data when you register a Lama account, complete our identity verification and ongoing identity verification processes, authenticate your account, participate in contests or promotions by filling out forms on our website, communicate with us by email and/or any other available means, as well as when you use our services in any other way that may exist in the future.

In the case of corporate customers, Lama will collect information from both the legal entity and the individuals acting on its behalf, including legal representatives, attorneys-in-fact, shareholders, beneficial owners, and authorized persons, as well as from any other person who may be relevant for the purpose of Lama providing its services.

1.1.1. Initial Information

a) Individuals

To comply with the legal requirements and regulatory obligations to which we are subject, as well as to proceed with the opening of your account and your use of Lama's services, you agree that we collect personal data, understood as any information about an individual from which that person can be identified, including by way of example: first name, place of birth, last name, title, username or similar identifier, tax identification number and/or fiscal number, marital status, date of birth, gender, identity document number, nationality, and any other information contained in any identification document you provide us, whether a passport, driver's license, personal identification card, or others.

We also collect:

Contact Data: including billing address, residential address, email address, and telephone numbers.
Financial Data: including bank account details, as well as proof of funds and proof of wealth.
Technical Data: including Internet Protocol (IP) address, your login data, browser type and version, time zone setting and location, browser plug-in types and versions, operating system and platform, and other technology on the devices you use to access My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers.
Profile Data: including your username and password, your preferences, comments, and any survey responses.
Usage Data: including information about how My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers, uses the data collected.
Location Data: including information about the location of your device.
Photograph.

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 by 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 who access a specific feature of the application. 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 that will be used in accordance with this privacy policy.

b) Legal Entities

Where the Customer is a legal entity, Lama will collect, process, and retain information and documentation including, without limitation:

Documents evidencing the legal existence of the company: such as the articles of incorporation, corporate bylaws, and any amendments thereto;
Documentation evidencing legal representation and powers of attorney: including current appointments, notarial powers of attorney, corporate minutes or resolutions;
Shareholding and control structure: including information on partners, shareholders, beneficial owners, and persons with significant control, in accordance with Lama's internal policies and applicable regulations;
Commercial registrations, tax records, and applicable licenses;
Information on economic activity: purpose of the business relationship and source of funds;
Any other document required pursuant to Know Your Business (KYB) policies, Anti-Money Laundering and Terrorist Financing Prevention (AML/CFT).

1.1.2. Additional Verification Information

We may ask you to send us additional information if:

We are unable to verify the information you provide; or
A query arises through background checks (see below); or
You send or receive certain high-value transactions or large volumes of payments through Lama's services, whether My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers; or
As necessary to comply with our obligations under money laundering regulations.

Additional information may include a copy of an identity document, such as your driver's license, passport and/or identification document, a recent utility bill, or other information that verifies your identity and address, as well as asking you to answer additional questions to help verify the information provided and the transaction conducted on our platforms.

We may also request, among other things, evidence of the source of funds or the origin of wealth, such as bank statements, investment statements, property sale receipts, or inheritance documents.

In the case of corporate customers, these verifications may extend to the company, its representatives, attorneys-in-fact, shareholders, beneficial owners, and authorized persons, including ongoing verifications of the corporate structure.

1.1.3. When We Communicate With You

When you contact us for customer service and/or other purposes, whether by email and/or other methods currently used or to be used by Lama in the future, we retain that information as well as the responses given to your inquiries. In the case of legal entities, these communications may be conducted with persons authorized by the company, who will act on its behalf.

These communications also include Marketing and Communications data, which encompasses your preferences for receiving marketing communications about our services and those of third parties, and your communication preferences.

1.1.4. Transaction Information

When you use Lama's services, we may ask you to provide information related to that transaction. For cryptocurrency transactions, this information will include the amount, the cryptocurrencies, the source of funds, and the external wallet. For fiat transactions, this information includes the amount, currency, and transaction type, the source of funds, the exchange rate, the recipient's name and banking details (account number, sort code, and IBAN where applicable), the recipient's address in certain jurisdictions, and optionally the recipient's email address and telephone number.

We collect information related to transactions conducted through Lama. Where the Customer is a legal entity, this information will include data from the corporate account, the beneficial owner of the funds, and the persons who instruct or order the transactions.

1.1.5. If You Do Not Provide Personal Data

Lama is required by law to collect personal data. If the User decides not to provide the required personal or corporate data, Lama reserves the right not to open an account for you, and/or we may have to restrict or cancel your access to My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers. By using Lama's Services, you agree that you will promptly provide any information we request for the purpose of verifying your identity, your transaction, or keeping your contact details up to date.

1.2. How We Collect Your Personal Data

We use different methods to collect data from you and about you, including through direct interactions, automated technology, third parties, or publicly available sources.

1.2.1. Direct Interactions

When you arrive at or leave Lama's website, whether connected via a fixed or wireless line, we receive the web address of the site you came from or are going to. This includes personal data you provide when you:

Create or use your Lama account;
Set up a crypto and/or bank transfer to your account on My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers;
We need to request additional information to verify your identity or to comply with our legal obligations;
Request that marketing be sent to you;
Participate in a survey; or
Provide us with feedback.

1.2.2. Automated Technologies or Interactions

While you use our website, we collect information about the services you search for or view, page response times and duration of visits to specific pages, how you interacted with each page (including scrolling, clicks, and mouse movements), and methods used to leave the page. We collect this personal data through the use of cookies, server logs, and other similar technologies. We may also receive technical data about you if you visit other websites that use our cookies.

We collect information about the device you use, such as device type, operating system and platform, browser type and version, browser plug-in types and versions, the times at which you access our website/app and the time zone setting, mobile network information, and the unique device identifier, which may include the IMEI number and/or MAC address of your device, or the mobile telephone number used by the device. We do not capture GPS information about you.

1.2.3. Information About You That We Receive From Third Parties or Publicly Available Sources

1.2.3.1. Identity Verification Using Photographs and Facial Images

To protect ourselves and our customers from fraud, we verify the information you provide with identity verification agencies to carry out the required verifications, regulatory reviews, and fraud prevention checks. During verification, we reserve the right to ask you to upload a photograph of your identity document and/or use your device's camera to verify your identity through facial recognition in order to provide these specific services. We receive information about you from these services.

We may also receive your personal data from third parties, including:

Technical data from analytics providers such as Google;
Contact, financial, and transaction data from technical or payment service providers;
Identity and contact data from verification or compliance service providers; and
By providing us with personal data of any person (other than yourself), you confirm that you have obtained that person's consent to disclose their personal data to us for processing.

1.4. Sensitive Data

Data privacy regulations prohibit the processing of "special categories of personal data", also referred to as "sensitive data", unless you have given your consent.

Sensitive data includes information revealing racial or ethnic origin, political opinions, religious or philosophical beliefs, trade union membership, genetic data, biometric data, and data concerning health, sex life, or sexual orientation. There are also restrictions on the processing of criminal convictions and offenses.

To avoid breaching these restrictions, Lama's policy is that we do not request or collect any Special Categories of Personal Data about you (race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health, genetic and biometric data), and therefore we ask that you do not disclose any sensitive data about yourself or others in any communication with us.

If you disclose sensitive data, for example by telephone or in an email, you will be giving express consent for us to process that information by storing the recording of the telephone call, the email, or other communication.

2. How We Use Your Information

By providing this information to Lama, the User expressly agrees that we may use it for the following purposes:

To offer the full functionality of My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers;
To comply with our legal and regulatory obligations, as well as those of our financial partners and service providers;
To stay in contact with you: whether to provide customer service, notify you of new features or updates to My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers, or to provide security notices or information;
To verify your identity so that we can prevent fraud or unauthorized activity; and
To fulfill any other purpose for which the information was collected.

Where the Customer is a legal entity, the processing will cover both the information of the company and that of the individuals associated with it.

In addition, by submitting your information to Lama, you specifically agree that we may use your information for the following purposes:

2.1. Fulfilling Your Requests

We will use your information to:

Provide you with the information, products, and services you request from us, including the provision of cryptocurrency services;
Complete any transaction you are conducting with us; and
Administer any promotion, survey, or contest you participate in through our website.

2.2. Compliance and Risk Management

As a registered crypto-asset provider, we are required to conduct background checks on individuals and connected parties, and to monitor ongoing transactions. This is to prevent fraud and money laundering, including helping to protect your accounts from fraudulent activity.

We carry out checks to ensure that we do not deal with countries, entities, or individuals subject to sanctions, to comply with terrorist financing and anti-money laundering regulations, and to identify high-risk individuals where additional controls need to be applied. We also conduct investigations into actual or suspected breaches of our Terms of Service.

2.3. Communication and Customer Support

We regularly communicate with our users by email to provide the requested services and to help you manage your account. These activities may include:

Responding to customer service requests;
Confirming information about the user's identity, business, or account activity;
Resolution of customer complaints;
Carrying out collections activities; and
Conducting customer surveys.

We use your email address and telephone number to:

Confirm the opening of a Lama account;
Send you a notice of transactions you send or receive through Lama;
Send you information about important changes to our products and services, including notices of any time our services are unavailable; and
Send notifications and other disclosures required by law.

Users cannot opt out of these communications, as we are required to send them to current customers, but they will be primarily service-oriented rather than promotional.

2.4. Marketing

We also use your email address to send you other types of communications that you can control, including newsletters and special promotions. These communications are intended to:

Provide you with information about the services we offer that are similar to those you have already requested;
Provide you with updates on the services we offer and promotional offers based on your activities when using Lama's services;
Keep you informed about market events and news; and
Inform you about new products and features we are developing that may be useful to you.

You may choose whether to receive some, all, or none of these communications.

2.5. Service Improvements and Account Management

We will use your information to provide and improve Lama's Services and to manage your account, including:

Verifying your identity, including during account creation;
Validating the accuracy of information and verifying it with third parties;
Resolving disputes, collecting fees, and troubleshooting;
Enabling us to manage risk and detect, prevent, and/or remediate fraud or other illegal or prohibited activities;
Detecting, preventing, or remediating violations of our policies, Terms of Service, or other user agreements;
Offering you customer service, including notifying you of changes to our service, including any interruptions, and sending you emails related to your account and transactions in your account;
Improving our existing products, services, websites, and capabilities and developing new ones; and
Managing and protecting our information technology infrastructure as part of our efforts to keep our website secure and protected.

2.6. Third-Party Information

We will combine information from third parties with the information you provide to us and that we collect about you. We will use all of this information:

To help us better understand your financial situation and behavior, so that we can make decisions about how we manage your Account;
To process applications for products and services available through us, including making decisions about whether to accept and approve any application.

We may need to share personal or corporate data with third parties. In the case of legal entities, this includes information relating to legal entities, their control structure, and beneficial owners, for the purposes set out in the preceding sections.

3.1. Supporting Our Business and Providing You With Services

Like most digital service providers, Lama works with third-party vendors who support our business operations (for example, vendors who assist us with fraud prevention and identity verification), as well as financial institutions, payment networks, customer service, and technology services, among others. We therefore need to communicate users' data to these third parties so that services can be properly provided. Our contracts stipulate that these business partners only use your information in connection with the services they provide to us and not for their own benefit.

By accepting this Privacy Policy and maintaining an account with Lama, you expressly consent to the transfer of your data to those third parties for the purposes indicated.

3.2. Banks

When withdrawing fiat currency, we will provide your information to the business partners contracted with Lama to complete this transaction, for example, by passing banking details to the correspondent bank or payment provider involved in the transaction.

3.3. Anti-Fraud, Anti-Money Laundering, Sanctions, and Risk Management

To carry out the checks described above, we will provide your information to our external business partners who perform these checks.

3.4. Law Enforcement Agencies and Regulatory Bodies

If we believe disclosure is reasonably necessary: whether to a) comply with any applicable law, regulation, legal process, or governmental request; b) establish, exercise, or defend our legal rights; c) enforce our Terms of Service or other applicable agreements or policies; d) protect our rights or property or those of our users, or the security or integrity of our services; e) for an investigation of suspected or actual illegal activity, as well as any activity that violates our terms and conditions; or f) to protect us, users of our services, or the public from harm, fraud, or potentially prohibited or illegal activities. We may disclose the necessary information to the Financial Investigation Unit of the Attorney General's Office of the Republic of El Salvador, the police and other security agencies, law enforcement bodies, competent governmental, intergovernmental, or supranational bodies, competent agencies, departments, or regulatory authorities, where we are legally required and/or authorized to do so.

3.5. Other Users

We may share personal information about you with the persons with whom you conduct transactions on My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers. This helps them know that they are receiving money from you (or that you requested a payment from them). We may also make certain information available to other Lama users to help them know they are making a payment to the right person. Personal information shared with the person(s) with whom you transact on Lama will be limited to the essential data necessary to safely identify transactions.

3.6. Professional Advisors

To comply with our legal obligations, we may need to share information about your account with professional advisors acting as processors or joint controllers who provide consulting, banking, legal, compliance, insurance, or accounting services.

3.7. Third Parties

We may choose to sell, transfer, or merge parts of our business or our assets with third parties. Alternatively, we may acquire other businesses or merge with them. If a change occurs in our business, the new owners may use your personal data in the same manner as set out in this privacy policy.

4. International Data Transfers

Lama is committed to adequately protecting your information regardless of where the data resides and to providing appropriate protection for your information when such data is transferred outside the EEA.

The information we collect from you may be transferred to and stored in a country outside the European Economic Area (EEA). It may also be processed by staff operating outside the EEA who work for us or for our service providers. Such staff may be engaged in the fulfillment of your request, the processing of your payment data, and the provision of support services. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this privacy policy.

By submitting your information and using Lama's services, you agree to such transfers, storage, or processing. We will take all steps reasonably necessary to ensure that your information is treated securely and in accordance with this Privacy Policy.

5. Data Retention Policy

We are required under financial market laws to retain account data for up to 15 years after the closure of an account. In some circumstances, such as an inquiry from a law enforcement agency, we may need to retain it for longer. We may also retain information if it is necessary to protect our interests, for example in the event of litigation. When data falls outside those retention periods, we will take steps to delete it from our system. Where you have asked us not to contact you, we will retain that information on a "do not contact" list to reduce the risk of us contacting you in the future.

6. Systems Security Policy

Lama has security measures in place designed to prevent data loss, preserve data integrity, and control access to data. Only authorized Lama employees and our business partners who process data on our behalf have access to your personal data. All Lama employees who have access to your personal data are required to comply with our privacy policy. Lama asks all business partners to ensure that any of their employees who have access to your personal data have signed confidentiality agreements. Contracts with business partners acting as data processors for Lama that involve personal data require an adequate level of security and stipulate that personal data may only be processed in accordance with Lama's instructions.

To ensure the privacy, confidentiality, and integrity of data, all information disclosed, shared, stored, or used, as well as any transaction you conduct through our website, is encrypted.

To provide a secure environment for our website, we store your data in secure data centers with high levels of physical and technical security, including the use of firewall systems, data encryption, and antivirus protection. We use security monitoring systems to detect and prevent unauthorized access and illegitimate activity on our systems.

7. Customer Rights

Our customers have the following rights:

To ask us to correct any information we hold about you if it is inaccurate. While we always strive to keep your information accurate, we welcome your corrections. We may ask you for additional verification information if you change certain data such as your name or address.
To ask us to delete your information if we no longer have a reason to hold it, also known as the "right to be forgotten". Our Data Retention Policy explains the circumstances under which we may or are required to retain information; however, outside of those periods we will delete your information in accordance with our data retention policy and upon request. We will maintain a record that you made a deletion request to reduce the likelihood of us contacting you in the future, but we will use that information for no other purpose.
To ask us to return the information you provided to us, also known as "data portability". You may ask us to send you in electronic format the information you provided to us under our Terms of Service or under consent.
To ask us not to process your information where you previously gave your consent or where we are exercising our legitimate interest. If you request that we stop processing your information, we will investigate whether there is a compelling reason for processing to continue and will discuss the outcome of the investigation with you. You cannot object to processing that is a legal obligation or to our need to process your information to fulfill a contract of which you are a party. If you previously gave your consent and we process your data on the basis of that consent, you cannot object to that past processing, but you may ask us to stop processing it in the future.
To request not to be subject to automated decision-making and profiling. At Lama there are no circumstances under which profiling or other automated decision-making can have a legal impact on you without a person reviewing and making a decision on the outcome. If you believe that profiling has unfairly affected you, our team can manually assess whether the decision is fair and discuss the situation with you.
To request a copy of the information we hold about you. We will endeavor to respond to your request within 30 days, but in the event of high demand we may need 90 days to prepare a complete response.

Where the Customer is a legal entity, these rights may only be exercised by the legal representative, attorney-in-fact, or duly authorized person, following verification of their authority.

8. Contacting Us

8.1. Data Controller

The data controller is LamaTechnology El Salvador, S.A. de C.V., a company registered and incorporated in El Salvador, with company number 2025126135 and registered office at Avenida la Revolución, #6, 25, Colonia San Benito, Presidente Plaza, Distrito San Salvador, municipio de San Salvador Centro, departamento de San Salvador.

8.2. Contact Us With Questions or Requests

If you wish to exercise your right to access your information or have any questions about this Privacy Policy, you may contact us at soporte@mylama.app

8.3. Complaints to the Data Protection Officer

If you believe we have violated a privacy law with which we should comply, please send an email to quejas@mylama.app. Our goal is to respond within a reasonable timeframe, normally within 30 days. Our Compliance team and the Data Protection Officer will handle your complaint and provide you with further information on how it will be managed.

9. Users Under 18 Years of Age

My Lama App, Lama Web, and/or any other method that may be created in the future through which we provide services to our customers, is not intended for persons under 18 years of age and we do not deliberately collect information from persons under 18 years of age without parental consent. If we become aware that we have collected or received personal information from a person under 18 years of age without verification of parental consent, we will delete that information. If you believe we may have information from or about a person under 18 years of age, please contact us at soporte@mylama.app

10. Changes to This Privacy Policy

We may modify this Privacy Policy at any time, as new features are added to Lama or as we incorporate suggestions from our customers. Any changes we make will be posted on our website, so please check back frequently.

Your continued use of our website and the Lama app following the publication of a new version of this Policy will constitute your acceptance and agreement to any changes. If you do not agree with the terms of this Privacy Policy, you may close your account at any time.