Currency Solutions comply fully with the Data Protection Act 1998, which protects customers against the misuse of personal data held across both manual and electronic records.
The Act requires that any personal data held should be:
- Processed fairly and lawfully
- Obtained and processed only for specified and lawful purposes
- Accurate and up-to-date
- Held securely and for no longer than is necessary
- Not transferred to a country outside the European Economic Area unless there is an adequate level of data protection in that country.
Purposes for which Personal Data may be Held
Personal data relating to customers may be collected primarily for the purposes of:
- Setting up a trading account
- Recording of communication with customers
- Compliance with legislation
Currency Solutions considers that the following personal data falls within the categories set out above:
- Personal details including name, address, age and status.
- Notes and telephone recordings of discussions between Currency Solutions staff and the customer
- Bank/building society details.
The Company will review the nature of the information being collected and held on an annual basis to ensure there is a sound business reason for requiring the information to be retained.
Responsibility for the Processing of Personal Data
The Company appoints a Data Controller who takes responsibility for ensuring all personal data is controlled in compliance with the Data Protection Act 1998. Employees of Currency Solutions who have access to customer data are vetted and must comply with this policy and adhere to the procedures laid down by the Data Controller.
Use of Personal Data
To ensure compliance with the Data Protection Act 1998 and in the interests of privacy, customer confidence and good customer relations, the disclosure and use of information held by the Company is governed by UK legislation.
We are Registered with the Information Commissioner's Office (ICO)
This is a UK independent authority set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals.