Security and transparency
All the information you need to safely buy precious metals on VeraCash.
Security of your precious metals
When you buy physical gold and silver, VeraCash immediately obtains their equivalent in weight, in the form of tokens and coins which are valid legal tender*. Your grams of precious metals are then stored in our own strong rooms at the Free Ports and Warehouses of Geneva.
Switzerland offers political and economic stability, making it the ideal location to store precious metals outside the banking system. PFEG is a reliable partner, that provides us with maximum security. VeraCash is a French company which guarantees the presence of each gram of gold and silver in our vaults with: 1) corporate accounts reviewed by a statutory auditor; 2) surprise audits by French and Swiss Customs; and 3) ALS Global, an external auditor specializing in precious metals and chosen by AuCOFFRE.com to audit our exact inventory, down to the last coin, and to produce an audit report for our members.
*Beware of platforms which promise you guaranteed high returns. Precious metals offer no promise of returns but have been recognized for more than 6,000 years as effective exchange instruments and a good way to store value, particularly in times of crisis.
What would happen if VeraCash filed for bankruptcy?
Our customers’ physical gold and silver do not belong to VeraCash and are not included on the company’s balance sheet. As a result, if the company were liquidated, the precious metals would be redistributed to our members, in accordance with our Terms and Conditions.
Security of the information system
VeraCash’s information system uses three levels of identification: a public ID, the customer’s username and a secret four-digit key (not to be confused with the VeraCash card’s PIN). This system offers excellent protection against “brute force” attacks.
You alone are responsible for your login details and passwords. So be sure to keep them in a safe place (like an encrypted password manager) and never write them down on paper!
The websites veracash.com and veracarte.com use SSL (Secure Socket Layer) encryption which creates a secure channel between the client and the servers. You can tell they are encrypted by the “https” in the website’s address and by a closed padlock icon, meaning the site’s certificate is valid. As concerns data exchanges, the system also combines two levels of security: - The communication network employed by our server uses version 1.2 of the TLS (Transport Layer Security) protocol to secure all exchanges by encoding the data; and - A system of encrypted tokens provides for strong authentication with the application server.
Security of the VeraCash Mastercard®
Like any debit card, you will need to enter your four-digit PIN to use the VeraCash Mastercard for each transaction. By default, the magnetic stripe on the back of the card is deactivated to prevent its fraudulent use. For online payments, a 3D Secure functionality allows you to make purchases on trusted e-commerce websites. If your card is lost or stolen, you can freeze it by calling +33 (0)1 80 88 61 00
Communication from VeraCash
The presence of the VeraCash logo is no guarantee of the source of a message, so be vigilant! All of VeraCash’s communications to our members are sent from email addresses ending in @veracarte.com or @veracash.com, such as: - firstname.lastname@example.org; - email@example.com; - firstname.lastname@example.org; and - email@example.com If you receive an email from a questionable email address, or if the content is informal in tone or asks for personal information, please do not click on any links or open any attachments. Instead, contact VeraCash on +33 (0)1 80 88 61 00 or by email.
Prevention of fraud, money laundering and terrorist financing
In accordance with French and European banking legislation (like the French Monetary and Financial Code), VeraCash works to prevent fraud, money laundering and the financing of terrorism. Although VeraCash promises our members the greatest discretion, we may need to communicate personal information at the request of French or international authorities. At VeraCash, we defend our values and will not under any circumstances tolerate any abuse of our services. We do everything in our power to detect any suspicious behaviour.