Compensation Policy for Unauthorized Transactions in Fund Transfer Services

Compensation system for unauthorized transactions

The Company will compensate customers for the loss arising from unauthorized transactions in order to ensure safe and secure use of overseas remittance services, Pay Forex. For the receipt of compensation, it is necessary that the request for compensation be submitted in our predetermined method.

Scope of compensation

In case the information of PayForex account is obtained (stolen, or defrauded) illegally by the third party, and the balance is used illegally by the ill-intentioned third party.
In case the information of financial institution account (including the information that PayForex account is registered to) is obtained (stolen, or defrauded) illegally by the third party, and the balance is used illegally by the ill-intentioned third party.

Conditions of compensation

• (1) It should be reported to the Company and the policy department within 60 days from the loss occurrence.
• (2) It should be the first request, otherwise, more than a year has passed since the previous request.
• (3) It should not be used by family members or housemates.
• (4) It should be agreed that affiliated financial institutions be provided with the private information presented on compensation request, in order to confirm the fact, and implement the compensation procedures smoothly.
• (5) It should satisfy our inspection standards.
• (6) Our security measures (2 factor authentication etc.) should be carried out.

Not covered by compensation

• (1) Customer’s intentional or serious mistake, or unauthorized use arising from law violation.
• (2) Customer’s unauthorized use (including involuntary use forced by the third party).
• (3) Unauthorized use of services with the agreement or request of customer, customer’s family members, close relatives, or housemates.
• (4) By the use of mobile terminals transferred, rented or submitted as collateral by customer.
• (5) In the case of customer’s violation of this policy or our rules.
• (6) In case customer’s report of unauthorized use is false or suspected of being false.
• (7) In case customer participates in unauthorized use, or is suspected of participation.
• (8) In case customer is compensated for by a separate compensation request made within a year.
• (9) In case customer does not cooperate with the investigation into the unauthorized use.
• (10) In case customer does not take necessary actions in order to decrease the loss arising from unauthorized use.
• (11) The loss with the exception of the monetary loss arising from unauthorized use.
• (12) Unauthorized use incurred by war, disaster, epidemic, earthquake and social disorder.
• (13) On other occasions where we reasonably consider it as inappropriate.

Compensation amount

The full amount
*In case compensation is received from the third party, the difference between the amount of loss and compensation is covered.
*Depending on the result of investigation, the compensation amount might be paid by the affiliated financial institution.

The procedure from the loss of unauthorized use to the compensation request

The loss report should immediately be sent to the police department.
*Without the loss report, the compensation request shall be invalidated.

It is requested that the compensation request with the following items be sent to us within 60 days from the loss of unauthorized use.
*Please be reminded that if the above period passes, it shall not be covered by the compensation.

1. Please use the Inquiry Form on our HP or Pay Forex.
2. Please make an entry of “the compensation request of unauthorized use”.
3. And then, please write the following items.
Information on requester
• Customer’s account number (in case it is our customer)
• Full Name
• The date of birth
• E-mail address
• Address
• Telephone number
Details of transaction to be covered (*)
• The loss date and time
• The amount
• How and why the loss occurred.
(*)For confirmation, please refer to the Transaction History.
Information on the loss report sent to the police department (If it is left unanswered, the whole request shall become invalid.)
• The date of request
• Receipt number ( If it is received as consultation record, it shall be the consultation acceptance number.)
• The name of police department
4. Please send it after having confirmed that nothing is missed out.
5. Please wait for our contact, as the compensation request is completed.

The flow of procedure after compensation request

The situation described on the request form shall go through the inspection in accordance with our internal regulations
The result of inspection in addition to the method of compensation transfer, in case it is listed under coverage, shall be sent to the e-mail address on the form.
*Please wait for a while until the inspection is completed after request.
*Compensation is carried out in accordance with our internal regulations.
*For our investigation into compensation, affiliated institutions are provided with the details of request and the request is reviewed together with us.

Contact details of consultation services on compensation

Queen Bee Capital Co., Ltd. Support Desk
22F Sumitomo Fudosan Roppongi Grand Tower, 3-2-1, Roppongi, Minato-ku, Tokyo, Japan 106-6222
Telephone number: 0120-808-774
Business hours: weekdays 9:30-17:30

Disclosure standard of unauthorized transactions

In case unauthorized transactions under coverage occur or there is a risk of occurrence, and based on the situations of unauthorized transactions, if it is considered necessary to prevent the secondary loss, or useful for the avoidance of occurrence of similar cases, or if transactions are considered to give significant social impact, based on the amount of loss and the number of transactions, we shall immediately disclose the necessary information, in cooperation with affiliated institutions.

The day of establishment

April 30. 2021