28 May 2019
WHAT DATA TO BE COLLECTED FROM YOU
To afford the Client with OFBANK’s banking/financial products and services and/or to implement Client-requested transactions, OFBANK shall collect personal information from the Client which may include, but are not limited to:
• Name, Age, Date/Place of Birth, Gender, Civil Status, Nationality
• Address and Contact Details
• Educational Background
• Employment History
• Financial Background
• Specimen Signature
• Permits, Licenses & Registrations
• Status of Pending Civil/Criminal Cases (if any)
• Telephone conversation recordings through our Customer Care Center
• CCTV footage for security purposes
OFBANK may request to verify the Client’s personal information, or seek additional information from regulatory, judicial, tax authorities, or credit bureaus when it is necessary.
PURPOSES OF DATA PROCESSING
OFBANK shall process the Client’s personal information in relation with any of the following purposes:
• Open, maintain, and/or terminate accounts;
• Ease of contacting/communicating with clients;
• Evaluate, approve, provide, or manage applications, financial products and services, and other transactions that the Client has requested;
• Comply with know-your-customer information requirements;
• Conduct credit and background checks;
• Evaluate Client’s eligibility for OFBANK’s products and services;
• Perform profile and risk analysis;
• Provide extensive and quality support to the Client;
• For internal purposes, such as administrative, operational, audit, credit and risk management, or;
• Comply with its reporting obligation to government authorities under applicable laws, rules and regulations.
OFBANK’S METHOD OF PROCESSING PERSONAL DATA
Processing refers to the collection, recording, organization, storage, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure or destruction of personal information. If necessary for the efficient delivery of OFBANK’s products and services, the processing of personal data may be outsourced to third party service providers subject to compliance with this Statement and the provisions of the Data Privacy Act and its Implementing Rules and Regulations.
OFBANK shall gather personal information through, but not limited to, any of the following:
• Face-to-face and/or telephone conversation with OFBANK personnel
• Accomplishment and/or signing of forms/documents
• Online enrollment through electronic banking channels and services (e.g., iAccess, Mobile Banking Application, etc.)
WHEN DO WE COLLECT PERSONAL INFORMATION
OFBANK collects information upon the Client’s application for, availment of and/or usage of OFBANK’s products and services. This includes, but not limited to, account opening, loan applications, signing-in to e-Banking channels, etc.
RECIPIENTS OF INFORMATION
Personal information may be processed and shared with various units within OFBANK to the extent necessary for any of the purposes herein declared, to credit information bureaus, or to government authorities under applicable laws, rules and regulations as well as policies and procedures of the OFBANK.
RETENTION AND DISPOSAL
Retention and disposal of personal information shall be made in accordance with the Records Disposal Policy and Records Disposition Schedule of OFBANK as approved by the National Archives of the Philippines under RA 9470.
HOW WE SAFEGUARD PERSONAL INFORMATION
In accordance with the Data Privacy Act, RA 1405 (Bank Secrecy Law), RA 8791 (General Banking Law of 2000), RA 6426 (The Foreign Currency Deposit Act), BSP Circular 808 series of 2013 (Guidelines on Information Technology Risk Management for All Banks and other Supervised Institutions), BSP Circular 982 series of 2017 , its employees, agents and representatives, shall handle personal information with utmost care and adhere to appropriate organizational, physical, and technical measures to maintain the confidentiality, integrity and security of all personal information in its possession.
THE CLIENT’S RIGHTS
In accordance with the Data Privacy Act, the Client has the right to:
• Be informed whether their personal information shall or have been processed;
• Reasonable access to their personal information;
• Require OFBANK to update their personal information;
• Suspend, withdraw, or order the blocking, removal, or destruction of personal information if OFBANK is not required to retain it by law or for legitimate business purposes and subject to the conditions for the legitimate exercise of the said rights under the Data Privacy Act and its IRR.
- We will make all reasonable arrangements to ensure that personal data in our possession or under our control are protected against unauthorized access, collection, use, disclosure, copying, modification, disposal or similar risks. Unfortunately, the transmission of information via the Internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our site; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorised access.
ACCESS TO YOUR INFORMATION AND CORRECTION
- You have a right to request a copy of the information that we hold about you and information about the ways in which we have used and disclosed that information.
DATA PROTECTION OFFICER
Any inquiry or request for information regarding this Statement may be addressed to the following:
Data Protection Officer
Overseas Filipino Bank
Manila, Philippines 1000