Financial Crime World

Personal Data Protection at [Bank Name]

Purpose and Basis for Processing

At [Bank Name], we collect and process your personal data in order to provide you with banking services, manage risks, and comply with regulatory requirements. We only collect and use the minimum amount of personal data necessary to achieve these purposes.

Key Points:

  • To provide banking services
  • To manage risks
  • To comply with regulatory requirements

Data Retention

We retain your personal data for as long as necessary to fulfill our contractual or statutory obligations. We also maintain documentation of the retention periods and the criteria used to determine them.

Key Points:

  • Contractual retention periods
  • Statutory retention periods
  • Documentation requirements

Automated Decision-Making

We do not normally make decisions based solely on automated processing of your personal data. However, we may use profiling to identify key characteristics and predict developments in your behavior.

Key Points:

  • No automated decision-making without human intervention
  • Use of profiling for predictive purposes

Data Protection Rights

You have several rights under the General Data Protection Regulation (GDPR):

  • Right of Access: You can request access to your personal data that we hold.
  • Right to Rectification, Erasure, and Restriction of Processing: You can request correction or deletion of inaccurate or incomplete personal data. You can also restrict our processing of your personal data in certain circumstances.
  • Right to Withdraw Consent: If you have given us consent to process your personal data, you can withdraw it at any time.
  • Right to Data Portability: You can request a copy of your personal data in a machine-readable format.
  • Right to Lodge a Complaint with the Relevant Supervisory Authority: You can complain to the relevant supervisory authority if you believe we have not handled your personal data in accordance with GDPR.

Right to Object

You have the right to object, in specific circumstances and on grounds related to your particular situation, without any formal requirements, to the processing of your personal data.