Why can't my data be deleted?
In some cases, KoronaPay is not entitled to delete your data, even if you send us a request to delete your account.
The reason behind it is that the European legislation on the prevention of money laundering and terrorist financing (AML legislation) obliges us to keep the information received from you. The requirement applies to the cases when you sent or received money transfers in the app, applied for your identity verification, and/or we have performed due diligence procedures.
The obligation to store data and documents for 5 years is set by article 40 of EU Directive 2015/849, as well as article 68 of the Cyprus Law No. 188(I)/2007.
The exception for such cases is expressly provided by the General Data Protection Regulation. Article 17(3) of the GDPR sets that the right to data erasure does not apply if a company is required to retain data for compliance with laws.
Thus, in accordance with the AML legislation and the GDPR, we are not entitled to accept a data deletion request when AML legislation requires us to retain data. In such cases, we block your account and stop processing data for any other purposes than compliance with law.
Upon the expiration of the required retention period (5 years), we will delete your data entirely.
Where can I find the User Agreement and Terms of Service?
What if I need to send a larger amount?
