Legal

Important – The Additional T&Cs stated in this section governs your access to the StraitsX Accounts (as defined below). 

User advisory - The StraitsX Digital Assets Account (as defined below) is issued by StraitsX Payment Services Pte Ltd (i.e. SPSPL); the StraitsX Fiat Account (as defined below) is issued by Xfers Pte Ltd (i.e. XPL); the StraitsX Earn Account is issued by Xfers Investment Pte Ltd (i.e. XIPL).

‍

1. SERVICE DESCRIPTION

1. Upon registration, you are eligible for the following StraitsX Accounts with StraitsX subject to the terms and conditions set out in these StraitsX T&Cs:‍
   
   1. StraitsX Digital Assets Account, which includes a StraitsX Digital Assets Wallet. This wallet is associated with your StraitsX Digital Assets Account and can be used to contain StraitsX Tokens and Non-StraitsX Tokens. The StraitsX Digital Assets Wallet is a custodial wallet where we maintain control over the private keys associated with the said wallet.‍
   2. StraitsX Earn Account, which includes a facility that allows select users to lend StraitsX Tokens or Non-StraitsX Tokens to XIPL and earn a reward based on a prevailing reward rate that is determined by us. ‍
   3. StraitsX Fiat Account, which is intended to contain the StraitsX E-money issued by us. 
2. Via your StraitsX Dashboard, you are able to access and use the following services linked to your StraitsX Accounts:
   
   1. Store, track and manage StraitsX Tokens and supported Non-StraitsX Tokens (a list of supported Non-StraitsX Tokens can be found on the StraitsX Website).
   2. Send and receive StraitsX Tokens and supported Non-StraitsX Tokens to/from other StraitsX Digital Assets Wallets and/or other digital asset wallets.
   3. Purchase and/or redeem StraitsX Tokens and Non-StraitsX Tokens directly from us in accordance with these StraitsX T&Cs.
   4. Store, track and manage your StraitsX E-money (once the service is available for select users)
   5. When the service is available - send and receive StraitsX E-money to/from any other StraitsX users, including individual, corporate and/or merchant users (once the service is available for select users).

‍2. OPENING UP YOUR STRAITSX ACCOUNTS - CUSTOMER INFORMATION

2. To open and maintain your StraitsX Accounts, we may require you to provide us with the following Customer Information and (where applicable) corresponding supporting documentation pertaining to yourself (as an individual or corporate entity) and/or any Authorised User of your StraitsX Accounts: 
   
   1. Full name, including any aliases; 
   2. Unique identification number (such as an identity card number, birth certificate number or passport number, or where you are not a natural person, your incorporation number or business registration number); 
   3. Your residential address, or where you are not a natural person, your registered or business address and if different, your principal place of business;
   4. Your primary email address;
   5. Your primary telephone or mobile number; 
   6. Your date of birth, establishment, incorporation or registration (as applicable); 
   7. Your nationality, place of incorporation or registration (as applicable); and
   8. Such other information, documents or materials as we may from time to time request. 
3. All documents and information provided to StraitsX must be in English. You are responsible, at your own cost, for obtaining certified translations where documents or information are not originally in English. Additionally, you are required to provide all requested documentation and information in the specified format and within the specified timeframe as set by StraitsX.
4. You represent and warrant that all Customer Information provided to us is accurate, current and complete. You further agree that it is your sole responsibility to ensure the accuracy and completeness of your Customer Information, and agree to promptly update any Customer Information provided to us should there be any change. If you do not provide accurate, current and complete Customer Information to us, you must not use the Services. You may update your Customer Information by submitting a support ticket via the StraitsX Website. 
5. You acknowledge that a failure to meet any of the requirements stated in clauses 2.1 to 2.3  may impede the onboarding or any annual verification process. As such, we reserve the right to terminate the agreement between StraitsX and yourself and close your StraitsX Accounts at any time if these requirements are not met. 

Verification of Customer Information

5. You authorise us to make any inquiries we deem necessary to verify Customer Information. This may include, but is not limited to, asking you or your Authorised User for further information or documentation, requiring you or your Authorised User to provide a scan/copy of your identification documents/card (or passport), proof of address, taxpayer or national identification number, requiring you or your Authorised User to take steps to confirm ownership of your email address or financial instruments, ordering a credit report or verifying your Information against third party databases or through other sources.
6. In providing your Customer Information to us, you and your Authorised User authorise us to share your Customer Information to such parties and for such purposes as set out in our StraitsX Data Privacy Policy.

3. AUTHORISED USER & LINKING A DEBIT CARD TO STRAITSX DIGITAL ASSETS ACCOUNT

Authorised User

1. Where applicable, you are allowed to assign and authorise any individual to occupy designated roles in your StraitsX Accounts. Individuals that are authorised by you to occupy the following designated roles - “Owner”, “Admin”, “Operation” and “Developer” and anyone else that has control over your StraitsX Accounts (collectively known as “Authorised Users”) - will have control over your StraitsX Accounts and Services, including the fact that Authorised Users can independently (a) open, maintain, and close your StraitsX Accounts, (b) subscribe for, manage, and terminate any StraitsX Services, and (c) execute all necessary relevant documentation or forms relating to your StraitsX Accounts and StraitsX Services.
2. You acknowledge that it is your responsibility to understand the permissions and limitations of each role and ensure that only appropriate individuals are authorised to act on your behalf. By assigning these roles, you authorize these Authorised Users to operate within the scope of their assigned permissions.
3. You are responsible for the control and use of your StraitsX Accounts and Services. As such, you acknowledge that any instructions emanating from an Authorized User within the designated roles in your StraitsX Accounts will be deemed to have been authorized and issued by you, and you agree to be responsible and liable for it. Save for any regulatory requirements imposed by any Applicable Laws, you also agree that StraitsX is under no continuing obligation to verify the identity or authority of any Authorised User responsible for issuing any instruction through your StraitsX Accounts, and the legitimacy and authenticity of such instruction.
4. You also agree to monitor and manage the actions taken by your Authorized Users to ensure compliance with the StraitsX T&Cs and any Applicable Laws. Consequently, you accept that we are entitled to take any actions we deem necessary under the StraitsX T&Cs against your StraitsX Accounts, yourself, or any Authorized User, including imposing fees, penalties, freezing or pausing the provision of services, or terminating this agreement, should these actions violate any terms and conditions of the StraitsX T&Cs or any applicable laws of any jurisdiction. As the owner of your StraitsX Accounts, you cannot exempt yourself from any consequences arising from actions initiated by your Authorized Users.

Linking debit card issued by card partners to your StraitsX Digital Assets Account

5. As part of the card program managed by our partners (“Card Program Partner”), you may be issued a debit card in either physical or digital/virtual form depending on the specifics of the card program. The debit card can be used for payments at various VISA-accepting merchants.The use of the debit card, regardless of its form, remains subject to the terms and conditions of our Card Program Partner that manages the card program (“Partner’s T&Cs”). 
6. As part of the card program, you may also be invited to link the issued debit card (whether a physical or digital/virtual card) to your StraitsX Digital Assets Account (“Linked Debit Card”). By linking the issued debit card to your StraitsX Digital Assets Account, you agree and authorize StraitsX to process and settle any Linked Debit Card transaction (“Linked Debit Card Transaction”) using the assets in your StraitsX Digital Assets Account. StraitsX will determine the list of assets available and exchange rate for financing the Linked Debit Card Transaction.
7. The acceptance, processing, and settlement of any Linked Debit Card Transaction using the assets in your StraitsX Digital Assets Account must comply with the StraitsX T&Cs (with the relevant modification to refer to Linked Debit Card Transaction, if necessary), including but not limited to whether the said transaction constitutes a Restricted Activity. If any Linked Debit Card Transaction, or its associated deduction, is found to be in violation of the StraitsX T&Cs, we reserve the right to reject or reverse the Linked Debit Card Transaction, even after the deduction from your StraitsX Digital Assets Account has occurred. In such cases, subject to the StraitsX T&Cs, the relevant funds may be refunded to your StraitsX Digital Assets Account.
8. A “Linked Debit Card Transaction” refers to any transaction initiated using your Linked Debit Card and accepted by the VISA-accepting merchant, whether physically at a merchant location or through an online merchant platform. 
9. By using the Linked Debit Card at any VISA-accepting merchant, you authorise StraitsX to act and rely on the Linked Debit Card Transaction information received by StraitsX from VISA to deduct the equivalent amount from your StraitsX Digital Assets Account. For the purposes of the StraitsX T&Cs, the receipt of transaction information from VISA pertaining to a Linked Debit Card Transaction shall be deemed and treated as conclusive evidence of an irrevocable instruction issued by you to deduct an equivalent value of the Linked Debit Card Transaction from your StraitsX Digital Assets Account and to transfer the proceeds of such deduction to StraitsX for the purposes of settling the Linked Debit Card Transaction with VISA. You agree that StraitsX is under no obligation to verify the legitimacy of the Linked Debit Card Transaction or whether it was initiated by you personally, and you waive any right to dispute such a transaction on the grounds that they were unauthorized. 
10. You must ensure that you have a sufficient balance in your StraitsX Digital Assets Account for each Linked Debit Card Transaction you authorize using your Linked Debit Card. This includes any applicable taxes, fees etc. If the available balance is insufficient to cover the full amount of the Linked Debit Card Transaction, and the merchant does not allow you to combine the use of your debit card with other payment methods, the said transaction will be declined. Where there is sufficient balance in your StraitsX Digital Assets Account, the said transaction will be processed without any further action required from you. 
11. If you use your Linked Debit Card for a transaction in a currency other than the currency supported by our Card Program Partner, the amount deducted from your StraitsX Digital Assets Account balance will be converted into the transacted currency using a rate set by StraitsX. You may also incur a foreign exchange fee.
12. Any refunds for goods and services purchased using your Linked Debit Card will be processed according to the VISA-accepting merchant's or Card Program Partner’s refund policy. Once StraitsX receives the funds from the merchant, they will be returned to your StraitsX Digital Assets Account within one business day, subject to our risk management procedures and StraitsX T&Cs.
13. Notwithstanding anything to the contrary in the StraitsX T&Cs, any disputes or claims arising from any Linked Debit Card Transaction conducted with the Linked Debit Card must be directed to the Card Program Partner in accordance with their dispute resolution process. You agree that StraitsX is not liable for any disputes or claims arising from any Linked Debit Card Transaction. StraitsX does not also accept any liability if a merchant refuses to accept payment using the Linked Debit Card.

4. SAFEGUARDING OF YOUR STRAITSX TOKENS AND NON-STRAITSX TOKENS

1. As a holder of a Major Payment Institution Licence under the Payment Services Act 2019, StraitsX Payment Services Pte Ltd is required to safeguard the StraitsX Tokens and Non-StraitsX Tokens by depositing them into a trust account maintained either by us or an external custodian. 
2. Please see the Additional T&Cs pertaining to Risk Warnings, Notices & Disclosures for the terms and conditions in relation to the safeguarding of the StraitsX Tokens and Non-StraitsX Tokens.

5. RESERVE BACKING OF XSGD & XUSD

1. In accordance with the upcoming stablecoin regime designed by the Monetary Authority of Singapore and/or regulatory requirements imposed by them, XSGD and XUSD are fully backed by Reserve Assets equivalent to at least 100% of the par value of all outstanding StraitsX Tokens in circulation at all times. These Reserve Assets are held by STX XSGD (i.e. StraitsX SGD Issuance Pte Ltd) (for XSGD) and STX XUSD (i.e. StraitsX USD Issuance Pte Ltd)(for XUSD)  in segregated accounts on trust for the XSGD and XUSD token-holders, separate from the assets of STX XSGD and STX XUSD. 
2. Please see the Additional T&Cs pertaining to Risk Warnings, Notices & Disclosures for the terms and conditions in relation to the safeguarding of the Reserve Assets backing the XSGD and XUSD. 

6. CHARGEBACK, REVERSALS ETC & BALANCE OF YOUR STRAITSX ACCOUNTS

Reversal of payments/transfers

1. Payments/Transfers received in your StraitsX Accounts may be reversed at a later time pursuant to these StraitsX T&Cs, including situations where a payment/transfer is subject to a Chargeback, Reversal, Claim or is otherwise invalidated. This means that a payment/transfer may be reversed from your StraitsX Accounts after you have provided the sender the products/goods/assets/property or services that were purchased.
2. In the event of such reversal, we reserve the right to deduct the reversed amount from the account balance of any of your StraitsX Accounts. If the account balance in all of your StraitsX Accounts are insufficient to meet the reversal amount, we may deduct the available account balance amount from your StraitsX Accounts and instate a negative balance in your StraitsX Accounts for the remaining liability. You agree to promptly restore your StraitsX Accounts to a zero or positive balance by topping up with StraitsX E-money, StraitsX Tokens, Non-StraitsX Tokens, or through any alternative method that we may direct you to follow.

Balance of your StraitsX Accounts

3. Your StraitsX Accounts’ balance will be reflected on the StraitsX Dashboard. Subject to the StraitsX T&Cs, this balance reflects what we owe you. For the avoidance of doubt, StraitsX’s liability to you is limited to the unrestricted portions of your StraitsX Accounts’ balance in respect of any withdrawal or refund request, without any interest accruing. Each time you transact with or add funds into your StraitsX Accounts (including where you instruct that we issue StraitsX E-money or credit StraitsX Tokens and/or Non-StraitsX Tokens into your StraitsX Accounts), you shall be solely responsible for ensuring that the balance reflected is accurate and corresponds to the amount paid or transferred to your StraitsX Accounts, or the amount that you have provided us with in exchange for the issuance of StraitsX E-money or crediting of StraitsX Tokens and/or Non-StraitsX Tokens into your StraitsX Accounts.
4. StraitsX, and the Safeguarding Institutions or any financial institution carrying out the safeguarding of funds for StraitsX,  shall not be liable for any error or omission not drawn to our attention upon any payments or transfers to/from StraitsX Accounts, or instruction for issuance of StraitsX E-money or crediting of StraitsX Tokens and/or Non-StraitsX Tokens into your StraitsX Accounts.
5. Additionally, our records of all balances and transactions (including blockchain records and the balances of your StraitsX Accounts) shall, save for manifest error or fraud, be conclusive and binding on you for all purposes.
6. This clause does not affect any right that you may have in respect of StraitsX Tokens and/or Non-StraitsX Tokens which are stored in a Non-StraitsX Account controlled by you.

7. MAXIMUM LIMITS 

1. Depending on, among other things, the degree to which you have verified your StraitsX Accounts, we may limit the maximum amount of StraitsX E-money, StraitsX Tokens and/or Non-StraitsX Tokens that you can hold in aggregate in your StraitsX Accounts. Additionally, we may impose separate maximum limits based on our prevailing operational thresholds.

8. FUNDS IN EXCESS OF LIMITS IMPOSED

1. Any instruction for the issuance of StraitsX E-money into your StraitsX Fiat Account that exceeds the issuance, purchase, transfer, or regulatory limits, including any maximum limits you are permitted to hold in your StraitsX Fiat Account, may be subject to our discretion in handling such excess amounts. In instances where the instructed amounts exceed the permitted limits:
   
   1. Rejection of Excess Funds: We reserve the right to reject the issuance of any excess StraitsX E-money and may instead return these funds to your Attached Bank Account.
   2. Temporary Holding Balance: Excess amounts may be reflected in your StraitsX Accounts as a Temporary Holding Balance. You will not be able to instruct us on how to apply the amounts in your Temporary Holding Balance. Subject to and in accordance with our fund transfer and settlement processes and timelines (which may be amended, supplemented, or replaced from time to time), we will effect withdrawals of the amounts in your Temporary Holding Balance to your Attached Bank Account. Where no Attached Bank Account has been specified, we will retain the amounts in your Temporary Holding Balance until you have specified an Attached Bank Account.
   3. Automatic Conversion to StraitsX Tokens: We retain the right to automatically convert any amounts in excess of the imposed limits into StraitsX Tokens equivalent to the fiat currency value of the excess amount. This conversion will reflect in your StraitsX Accounts as the respective StraitsX Token, which may be utilized in accordance with the terms applicable to such tokens.
2. By instructing us to issue StraitsX E-money into your StraitsX Fiat Account, you unequivocally authorize and instruct us to handle any excess amounts according to these provisions, depending on our assessment of the appropriate and compliant response at the time of transaction.
3. These measures are in place to comply with our risk assessment, regulatory requirements and to manage the limits imposed on your account effectively. It is your responsibility to be aware of and adhere to the maximum limits applicable to your StraitsX Fiat Account

9. NEGATIVE BALANCES AND MULTIPLE CURRENCIES

1. If your StraitsX Accounts have a negative balance for any reason, you shall take all necessary actions to restore your StraitsX Accounts to a zero or positive balance as soon as possible.
2. We may set-off the negative balance with any funds (including StraitsX E-money, StraitsX Tokens and/or Non-StraitsX Tokens) that you subsequently add to or receive into your StraitsX Accounts. If you have multiple currency or token balances in your StraitsX Accounts and one of the currency or token balances becomes negative for any reason, you irrevocably authorise us to set-off the negative balance by using funds you maintain in a different currency balance by converting the said funds at the prevailing currency exchange rate as stated on the StraitsX Website.
3. If the balance of your StraitsX Accounts still remains negative despite the set-off, you shall, as soon as possible, transfer (a) money from your bank account or debit card into our designated bank account, or (b) StraitsX Tokens and/or Non-StraitsX Tokens into our designated wallet address to bring your StraitsX Accounts to a zero or positive balance (whether through an issuance of StraitsX E-money or crediting of StraitsX Tokens and/or Non-StraitsX Tokens to your StraitsX Accounts or a transfer of StraitsX Tokens and/or Non-StraitsX Tokens into your StraitsX Accounts). Additionally, you agree and irrevocably authorise us to charge your debit card for the amounts owing, or to engage in other collection efforts to recover such funds from you.

10. INACTIVE ACCOUNTS AND EXPIRY OF FUNDS IN STRAITSX ACCOUNTS 

Account validity period 

1. Your StraitsX Accounts shall be suspended if you do not use it for a period of (1) one year (“Validity Period”). We may at our sole discretion from time to time vary the Validity Period for any or all types of StraitsX Accounts. For the purposes of this clause 10.1, an account is considered not used if (1) no transactions have been carried out across all transaction types, including but not limited to top-up, transfer, contract execution, and withdrawal, which are initiated by you, and (2) there has been no successful login activity.

Reactivation of suspended StraitsX Accounts

2. You may request to reactivate your suspended StraitsX Accounts by filing a request with us. We may require you to re-verify your identity and provide further supporting documents before we decide to reactivate your StraitsX Accounts.

Service Fee for suspended StraitsX Accounts

3. If your StraitsX Accounts have been suspended under clause 10.1, we shall be entitled to levy a service charge per month as we may determine from time to time.

Account closure 

4. You agree that we reserve the right to close your StraitsX Accounts if they remain inactive beyond the Validity Period. To process the closure of your StraitsX Accounts, you also agree and consent to the conversion of any StraitsX Tokens or Non-StraitsX tokens held in your StraitsX Accounts into any supported fiat currency. The conversion rate will be determined at our sole discretion based on the prevailing market prices at the time of conversion. Any fees or costs associated with this conversion will be deducted from your account balance prior to disbursement. Where necessary for the purposes of this clause, you also irrevocably authorize us to withdraw some or all of your funds into your linked bank accounts (i.e. Attached Bank Account). 
5. Where there are no verified bank accounts linked to your StraitsX Accounts, StraitsX will make reasonable attempts to contact you via your registered email address and/or mobile number and by any other communication methods provided by you to make the necessary arrangements to claim or withdraw the funds. If you fail to respond to our notifications or provide us with the necessary information and/or details to process the withdrawal of funds within a period of ninety (90) calendar days from the date of first contact, you agree and expressly authorize StraitsX to forfeit the remaining balances in your StraitsX Accounts and to close your StraitsX Accounts. By doing so, you irrevocably waive any claim, right, or entitlement to the forfeited funds. You acknowledge and agree that StraitsX will have no further liability or obligation in respect of the forfeited funds.

Expiry of funds in suspended StraitsX Accounts 

6. Where we choose not to close your StraitsX Accounts, you agree that you shall not be entitled to a refund of the balance of your StraitsX Accounts after the lapse of six (6) calendar years after the Validity Period whereupon you shall have no claim whatsoever against us.

11. HOW TO CLOSE YOUR STRAITSX ACCOUNTS

1. You may terminate these StraitsX T&Cs and close your StraitsX Accounts at any time by following the instructions in your StraitsX Accounts profile. Upon closure of your StraitsX Accounts, we will cancel any pending transactions and you will forfeit any special discounts or promotional credits etc., unless we are otherwise legally prohibited from doing so. You must redeem and/or withdraw the balances in your StraitsX Accounts prior to closing your StraitsX Accounts. You agree that you will continue to be responsible and liable for all obligations related to your StraitsX Accounts even after it is closed.

12. LIMITATIONS ON CLOSING YOUR STRAITSX ACCOUNTS

1. You may not evade an investigation by closing your StraitsX Accounts. If you close your StraitsX Accounts while we are conducting an investigation, we may hold the funds (including StraitsX E-money, StraitsX Tokens and/or Non-StraitsX Tokens) in your StraitsX Accounts to protect StraitsX, its parent, subsidiaries and affiliates or a third party against the risk of Reversals, Chargebacks, Claims, fees, fines, penalties and other liability. 

13. USER OBLIGATIONS 

Safeguarding your StraitsX Accounts ID, password and API keys 

1. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), API keys, API secret keys, or any other codes that you use to access StraitsX Services or to send any instruction to us. All such codes should be protected, and you should not (a) voluntarily disclose any code to any third party, except as instructed by us for any purpose including to initiate or execute any payment/transfer transaction through your StraitsX Accounts, (b) disclose any code in a recognisable way on your StraitsX Accounts or any other account; or (c) keep a record of any code in a way that allows any third party to easily misuse the code. 
2. You agree to keep your login credentials and any other required forms of authentication, including your API keys, confidential and separate from each other, as well as separate from any other information or documents relating to your StraitsX Accounts. You agree and understand that your disclosure of login information and access to authentication methods to third parties may negate our user authentication measures and allow unauthorized access to your account. 
3. As part of our commitment to ensuring the security of your StraitsX Accounts, we may require the use of multi-factor authentication for accessing our Services. Where we require so, it is your responsibility to secure any device that will be used or linked to the multi-factor authentication process. In the event that you choose to override the multi-factor authentication settings or elect not to use multi-factor authentication for any reason, you acknowledge and agree that we will not be liable for any consequential losses or damages arising from such actions. 
4. If you keep a record of any code, you should make reasonable efforts to secure the record, including (a) keeping the record in a secure electronic or physical location accessible or known only to you, and (b) keeping the record in a place where the record is unlikely to be found by a third party.

Communication of security instructions 

5. Where applicable, you are required to inform all Authorised Users tagged to your StraitsX Accounts of any security instructions or advice provided by us. It is the responsibility of each Authorised User to follow, where possible, the security instructions or advice given by us to the account holder. This includes, but is not limited to, measures related to multi-factor authentication, safeguarding account IDs, passwords, and API keys, as well as adhering to software updates and antivirus protections. You acknowledge that any failure on your part to communicate or adhere to these instructions may result in compromised account security, for which we will not be liable.

Updates, patches, anti-virus and password strength 

6. When using a device to access your StraitsX Accounts, you should (a) update your device's browser (e.g. Chrome, Safari, Internet Explorer, Firefox) to the latest version available, (b) patch the device's operating systems (e.g. Windows operating system (OS), Macintosh OS, iOS, Android OS) with regular security updates provided by the operating system provider, (c) install and maintain the latest anti-virus software on the device, where applicable, and (d) use strong passwords, such as a mixture of letters, numbers and symbols. If you choose to install and use a multi-factor authentication application or a passkey on a device (e.g., phone or tablet) on which the operating system has been tampered with in any way, you do so at your own risk. This includes, but is not limited to, a “rooted” (Android) or “jailbroken” (iOS) device.
7. Where any Non-StraitsX Account is opened, maintained and/or operated by you, you are responsible for maintaining security and control of any private key, password or code that you use to access your Non-StraitsX Account.

Notifications of instructions/completion/transactions 

8. You agree to enable and monitor notification alerts on any device, primary email address and/or telephone number that is used to receive notifications (pertaining to instructions, outgoing transactions of any amount etc received or made from your StraitsX Accounts), including opting to receive alerts for all outgoing transactions of any amount. Upon receiving instructions via the StraitsX Services, we will send a notification confirming receipt and completion of the transaction. You are expected to verify that each confirmation matches your instruction and is received within the usual timeframe. Such completion notification shall be deemed to have been received by you immediately after transmission and you should check such completion notification. You should contact us if you do not receive any completion notification within the time usually required for a similar notification to be received.
9. We would like to remind you that you are required by the StraitsX T&Cs to maintain your Customer Information accurate, up-to-date, and complete to ensure notification delivery. 

14. UNAUTHORISED TRANSACTIONS

1. You are responsible for the control and use of your StraitsX Accounts and any instructions sent from your StraitsX Accounts are deemed to be authorised and are binding on you. You acknowledge that we are not in the position (nor are we obligated) to verify the identity or authority of any person(s) using your StraitsX Accounts.
2. If you discover a transaction in your StraitsX Accounts that you did not authorise, you should contact us immediately as soon as practicable after discovery of the unauthorised transaction by submitting a support ticket via the StraitsX Website, and provide us with all information that we may request from you, including the following details: 
   
   1. The account that is affected; 
   2. Your identification information; 
   3. The type of authentication device, access code and device used to perform the unauthorised transaction; 
   4. (if applicable) The name or identity of any Authorised User for the affected account; 
   5. Whether the account details, authentication device, multi-factored authentication linked device, or access code was lost, stolen or misused, and if so: (i) the date and time of the loss or misuse, (ii) the date and time that the loss or misuse was reported to us, and (iii) the date, time and method that the loss or misuse, was reported to the police; 
   6. Where any access code is applicable to the affected account, how you or any Authorised User recorded the access code, and  whether you or any Authorised User  had disclosed the access code to anyone; and 
   7. Any other information about the unauthorised transaction that is known to you. 
3. You may also wish to contact the other relevant party (e.g. the recipient of your StraitsX Tokens and/or Non-StraitsX Tokens, or the bank which the money was withdrawn to) directly to resolve the issue.
4. Where you are not able to report the unauthorised transaction to us as soon as you receive any transaction notification alert for any unauthorised transaction, you should provide us with reasons for the delayed report should we request.
5. You undertake to make a police report where we request for you to do so.
6. We are not liable in respect of any unauthorised transactions on any Non-StraitsX Account. Please contact your Non-StraitsX Account issuer/operator (if applicable) in respect of any unauthorised transactions on your Non-StraitsX Account.