Safety
Are my diamonds protected?
- All diamonds are held in a secure vault facility safeguarded by Malca-Amit.
- Access to your account is protected with state of the art encryption technologies.
- Withdrawal restrictions provide extra security ensuring the funds in your account are returned only to you.
How is my account access restricted?
Your account is cryptographically protected offering the safest means of data communication widely used by banks, financial institutions, and other security sensitive users of the internet.
But we do not accept that in the future ciphers could not be broken, or your passwords uncovered.
Due to these very real risks DODAQ has assumed that against the odds your internet access will be compromised, and we have implemented substantial further safeguards to protect you against any such possibility so as to continually keep your holdings and your funds safe.
What theft preventions are in place?
In the unlikely event of a security breach on your account, we have installed a final failsafe security measure.This is the restriction on the destination account of your withdrawed funds.
We only allow funds in your DODAQ account to be transfered back to your original bank account
How do you guarantee the authenticity of every diamond?
All diamonds published on the DODAQ platform have first been graded by a recognised gemological grading laboratory and are received with their original certificates. They are then checked to ensure that each diamond is with it's correct certificate and then sealed before entering into the DODAQ vault. There are strict guidelines which determine the eligibility of those wishing to issue new diamonds onto DODAQ. For more information on issuer requirements see 'Guidelines for issuing on DODAQ'.
What does it mean to have DODAQ as a custodian of my diamonds?
When accepting the DODAQ Terms and Conditions you have engaged DODAQ as a custodian of your diamonds. DODAQ has subcontracted the physical custody of your holdings to a storage facilitator. DODAQ has retained responsibility for the administration and record keeping, which is performed through the DODAQ.com platform. At all times DODAQ acknowledges that you retain legal ownership of your diamonds.
What is my risk exposure?
DODAQ facilitates a client account with your bank therefore you are only subjected to the risk of bank insolvency as with any monies held in a bank, but not of the solvency of DODAQ.
However any diamonds you own on DODAQ are yours outright, so there is no credit exposure either with DODAQ, the vault operator or the Bank. All three could fail, and all your diamonds would still be yours and would still be returned to you in full, subject to any charges applicable to the handling/storage of your diamonds. This is the essence of direct physical ownership of diamonds held through DODAQ's custody arrangement.
What happens if DODAQ falls into receivership?
Any funds in an account have to be protected against the failure of DODAQ and the failure of the bank itself.
To protect your money from DODAQ's failure, your un-invested money is held at ABN AMRO in a segregated and pooled account designated 'CLIENT'. Under EU law a bank may not consider the funds in an account designated 'CLIENT' to be offset against debts which DODAQ might incur in running its business. However as with any potential banking risk the DODAQ client is exposed to the unlikely failure of ABN AMRO.