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Data Protection Policy
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Purpose and Scope
This Data Protection Policy aims to ensure that our bank handles personal data in accordance with applicable laws and regulations, particularly the Data Protection Act.
Key Principles
- Lawfulness: We will only process personal data when we have a lawful basis for doing so.
- Processing of Personal Data: We will collect and process personal data fairly and lawfully.
- Transparency: We will provide clear information about how personal data is used.
- Purpose Limitation: Personal data will be collected only for specified purposes.
- Data Minimization: Personal data will be processed to the extent necessary to achieve its purpose.
- Accuracy: Personal data will be accurate and up-to-date.
- Storage Limitation: Personal data will be stored securely for no longer than necessary.
Security Measures
To ensure the security of personal data, we have implemented the following measures:
Access Restriction
Access to personal data will be restricted to authorized personnel only.
Encryption
Data will be encrypted and pseudonymized where applicable.
Regular Risk Assessment
We will conduct periodic risk assessments of our data processing systems and services.
Data Breach Response
In the event of a breach, we will promptly assess and mitigate the impact, notify affected individuals, and report to relevant authorities.
Data Retention
Personal data will be retained for no longer than necessary for the purposes it was collected. Data may be stored for archiving purposes, pseudonymized where applicable.
Retention Period
- Personal data will be retained for a specified period.
- The retention period will be reviewed and updated regularly.
Data Subject Rights
We recognize customers’ rights under Part IV of the Data Protection Act:
Right to Access
Customers have the right to access their personal data.
Right to Rectification
Customers have the right to request correction of any inaccuracies in their personal data.
Right to Erasure (Right to Be Forgotten)
Customers have the right to request erasure of their personal data.
Right to Data Portability
Customers have the right to request a copy of their personal data.
Right to Object
Customers have the right to object to processing of their personal data.
Right to Restriction of Processing
Customers have the right to request restriction on processing of their personal data.
Data Protection Impact Assessment
We will conduct a data protection impact assessment prior to processing personal data that is likely to be of high risk to customers’ rights and freedoms.
Compliance with Laws
We must comply with all relevant data protection laws and regulations applicable in the regions where our services operate.
Changes to Policy
We may update this policy at any time, communicating changes through updates or our website.