​Financial Compensation
Department for International Financial Compensation ​
The Department for International Financial Compensation (DIFC) is the Mount Vema’s statutory Deposit insurance and investors compensation service for customers of authorized financial services firms of Mount Vema. DIFC services are free to customers of Mount Vema corporations worldwide and is mandatory, funded by state revenues. The compensation scheme covers bank deposits, insurance policies, insurance brokering, investments, mortgages and mortgage arrangement.
The department is responsible for payments of any liabilities personally incurred by Peter Goldishman - The Vema Seamount Authority, His Spouse – The Queen Consort of Mount Vema, and Direct Members of the Mount Vema Royal Family before the 25th of May 2018, in accordance with Article 16 of the Vema Seamount Declaration of Sovereignty.
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As of May 25th 2018 the personal belongs of Peter Goldishman and His Spouse becomes property of the state – The Vema Seamount Territory, therefore all their personal liabilities becomes the liabilities of the territory.
This means that DIFC is now responsible for the payment of compensations, to any individual, institution or nation who may have incurred losses after August 1st 2006, and before May 25th 2018. The responsibilities include payments of compensations when a Mount Vema firm is unable, or likely to be unable, to pay claims against it.
Insolvency: DIFC protects authorized Mount Vema financial institutions up to 100,000 golles (about $200,000 USD) in the event of their insolvency.

Protection is free and automatic

1- Those owed money by Peter Goldishman - Vema Seamount or His Spouse in the course of their duties must claim compensation from January 1st 2019, and no later than January 1st 2026. Compensations will be made in foreign exchange as follows:

1.1- Financial losses through investment
        Losses: up to $200,000 USD | Compensations: up to $400,000 USD 
1.2- Financial losses through failed contracts
       Losses: up to $100,000 USD | Compensations: up to $200,000 USD 
1.3- Financial losses due to discontinued services
       Losses: up to $50,000 USD | Compensations: up to $100,000 USD

2- If anything happens to a Mount Vema bank, or other financial institution, DIFC will automatically refund in golles or in foreign exchange, any deposit, savings, or investments, which shall be refunded within 90 days for claims presented twelve months after the incident, or within 28 days for claims presented right after the incident.
 
   2.1- Bank balances of up to $1,000,000 USD are protected for up to six months.
   2.2- 100% of the first $100,000 per person per authorised firm (for claims against firms declared in default from May 25th 2018).