Privacy Policy

 

Privacy and Personal Data Protection Policy

 

  1. Introduction 

  • This Privacy and Personal Data Protection Policy (“PDPP”) incorporates and adopts the same terms and definitions as in the Investor’s or Fund Raiser’s Onboarding Agreement (the “Onboarding Agreements”). 
  • The purpose of this PDPP is to inform you, the User, of how FS manages personal data. Please take a moment to read this PDPP so that you know and understand the purposes for which we collect, use and disclose your personal data. 
  • The contents of this PDPP should be read in conjunction with, and interpreted in light of, the Onboarding Agreements. 
  • The terms of this PDPP may be amended at any time at FS’ sole discretion, without further notice. Changes to PDPP will be posted on the Platform and/or specifically notified by FS, and the “Last Updated” date at the bottom of this page will be revised. It is the User’s responsibility to consistently review the PDPP upon each access or use to ensure that it is aware of any changes made by FS. 
  • Should you disagree with this PDPP, you may at any time cease to access the Platform, or the Services. The continued access or use of the Platform and/or the Services by the User after changes are posted constitutes the User’s agreement to be legally bound by this PDPP as updated and/or amended. 
  1. Definitions 

  • For the purposes of this PDPP, in addition to the definitions set out at Clause 2 of the respective Onboarding Agreements:
  • DPO” means Data Protection Officer, the individual employed by FS who is in charge of ensuring FS’ compliance with prevailing privacy and data protection regulations.
  • personal information” means any information, whether true or not, by which the User (or its partner, directors, shareholders or officers (as the case may be)) can be personally identified, including its name, address, telephone number, email address, billing and account information, credit or debit card information and other information incidental to providing goods or services. 
  • User” means any user or visitor of the Platform, whether User, Fundraiser, or any other third party who may access the Platform, whether incidentally or for the purposes of obtaining the Services, or otherwise. 
  1. Consent for data collection and processing 

  • The User agrees that FS may collect personal information from him when he voluntarily provides FS with such information, such as when registering with the Platform, adding information to its account (including but not limited to amending or adding to the Account Information), participating in a Loan or Subscription Request or Application, or through the User’s utilisation of the Services or the User’s access or viewing of the Platform. Personal information submitted by the User via the Platform shall be deemed to be collected by FS with the User’s permission. 
  • The User acknowledges and agrees that all personal information collected from the User via the Platform or otherwise are non-proprietary and non-confidential and may be utilised by FS: 
    • for the specific purpose for which it was volunteered; 
    • for the provision of Services to the User; 
    • to confirm the User’s identity and ensure that he is eligible to access and use the Services provided on the Platform; 
    • to conduct due diligence checks in accordance with all applicable laws (including any ‘know-your-client’, anti-money laundering and countering the financing of terrorism laws, regulations and requirements); 
    • to verify and approve the postings the User makes on the Platform; 
    • to process and respond to any enquiries or requests raised by the User;
    • to assess and determine whether an Event of Default has occurred; 
    • to facilitate debt recovery or other follow-up action on behalf of Affected Users; 
    • to evaluate whether to, temporarily or permanently, suspend, revoke, or terminate the User’s account; 
    • to understand the User’s needs and preferences; 
    • to inform or update the User about products or Services that may be of interest to the User, subject to Clause 6 of this PDPP; 
    • to market, sell, or provide the Platform and/or Services; 
    • to monitor, manage, and develop FS’ business and operations, administer accounts, and collect and process payments; 
    • to conduct statistical or other types of analysis (whether anonymised or not) for research or business intelligence purposes, so as to (i) maintain or improve the Platform’s content, appearance, design and/or utility; (ii) maintain or improve FS’ Services in general; or (iii) sell such research or intelligence data in an aggregated or non-personally identifiable form to third parties; 
    • to update the User about changes to the Platform or FS’ operations; 
    • to conduct surveys, research, and evaluations to obtain feedback; 
    • to be used on any social media platform; 
    • to detect and protect FS and other third parties against negligence, fraud, theft and other illegal activities; 
    • to comply with, or as permitted by, any law or regulatory requirement, process or provision; or 
    • as permitted under any other agreement between the User and FS

  • The User consents to receive email messages from and through FS, including messages regarding FS’ products and Services, upcoming special events or seminars, as well as other relevant information that may be of interest to the User, to the User’s email address as may be notified by the User to FS, provided that the User shall always have the option to decline such communications by following the directions included in FS’ emails or other communications, save for certain notifications that are: 
    • necessary elements of the User’s transactions on the Platform (such as confirmations of particular actions the User has taken); 
    • required for legal or security purposes; or 
    • meant to inform the User of changes to Platform policies or FS’ operations or Services,

 which cannot be opted out of. 

  • FS may record and/or monitor any communication(s) (including telephone calls or other electronic communications) between the User and FS. FS may do so in order to resolve queries in the future and/or for the purpose of ensuring security, staff training and complying with its legal and/or regulatory responsibilities. 
  • The Platform also collects certain non-personally identifiable information about the User, including but not limited to the User’s domain name, access provider, IP address, and browser language, and browsing or other user unique information or patterns. FS collects the User’s IP address in order to facilitate its administration and improvement of the Platform. The information derived from the User’s IP address can help FS diagnose server problems, report aggregate information, and determine the fastest route from the User’s computer to the Platform. 
  • FS may also collect non-personally identifiable information from the User when he navigates the Platform via “cookies”. FS reserves the right to use cookies to recognise the User’s browser and thereby customise and optimise the Platform to the User's preferences. In the event the User does not wish to receive cookies, the User shall be responsible for configuring his internet browser to erase all cookies from the computer’s hard drive, to block all cookies and/or to receive a warning before a cookie is stored. However, in the event the User does erase or block the cookies, the User agrees that it may not be able to utilise some features on the Platform. In such situations, FS shall not be held liable for any loss or damage resulting from the User inability to use those features. 
  • The User may withdraw its consent to FS’ continued use and disclosure of its personal information at any time by providing at least 30 days’ written notice to FS. In withdrawing its consent, the User acknowledges that FS may not be able to provide or continue providing certain Services to the User and that FS may cease such provision accordingly without any liability. 
  1. Disclosure and use of personal information 

  • The User further agrees that the personal information provided by the User to FS may be disclosed: 
  • if the User has expressly or implicitly consented or such disclosure, or may be deemed to have consented to such disclosure; 
    • if such disclosure is necessary to provide the User with the products and/or Services requested for by the User, or to respond to the User’s queries; 
    • if such disclosure is necessary for the operation of the Platform or FS’ internal processes; 
    • to third parties in connection with any Third Party Services (including without limitation third party credit bureaus, professional debt collectors, and law firms), and further agrees that such personal information provided may extend beyond what is strictly required for the provision by the third parties of the Third Party Services and that FS shall not be liable for the manner or care in which providers of Third Party Services maintain, protect, or utilise the User’s personal information; 
    • to third parties who provide services to FS, such services including payment processing, maintenance of the Platform or Services, monitoring of Platform activity, serving of Platform content, maintenance of FS customer database and/or administering of emails; 
    • if required by law or in a good faith belief that such disclosure is reasonably necessary (i) to comply with legal process or regulatory requirements applicable to FS; (ii) to enforce the Onboarding Agreements; (iii) to investigate and defend against any third party claims or allegations; or (iv) prevent or stop any illegal activity, security breaches, or harm to the Platform, FS’ interests, or any of FS’ employees; or 
    • if FS is the subject of a takeover and the User’s information forms part of FS’ assets to be transferred to the acquiring entity. 
  • FS shall be entitled to combine personal information provided by the User on the Platform with other information provided by the User to FS, and with information from third parties. 
  • The User’s personal information is maintained by FS in electronic form on its equipment, and on the equipment of its employees. Such information may also be converted to physical form from time to time. FS may use technical and/or organisational security measures to protect the User’s personal information against accidental and unlawful destruction, loss, or alteration and against unauthorised disclosure or access. Nevertheless, the User acknowledges and agrees that communications through the internet are not entirely secure and that any information transferred to FS is done so at the User’s own risk. FS does not warrant or guarantee that the information provided by the User will not be accessed, copied, used, or disposed of in breach of FS’ security measures, and the User agrees not to hold FS liable or responsible for any loss or damage resulting therefrom. In the event of such a breach, FS will, as far as reasonably possible, promptly notify the User. 
  • Personal information collected by FS may be transferred, stored and/or processed outside of Singapore. The User agrees that it consents to any such transfer, storage or processing of information outside Singapore. FS will comply with its obligations under the Personal Data Protection Act 2012 and Personal Data Protection Regulations 2014 in relation to personal information transferred, stored, or processed outside Singapore for as long as the information remains in FS’ possession or control during the transfer. FS will take appropriate steps to ensure that the recipient of the personal information who is located outside Singapore is legally obliged to provide a comparable standard of protection for the personal information. However, if personal information needs to be transferred to or stored or processed in countries that have less stringent personal data protection laws than Singapore in order to provide the User with the Services requested, the User agrees and explicitly consents to such transfer, storage, or processing. The User may at any time inform FS that it wishes to withdraw its consent to such transfer, storage, or processing of its personal information. 
  1. Maintenance and access to personal information records 

  • For the term of the applicable Onboarding Agreement, or throughout the User’s use of the Platform or the Services, whichever is later, the User shall maintain and promptly update its personal information to keep it true, accurate, current, and complete. If the User provides any personal information that is untrue, inaccurate, out of date or incomplete (or becomes untrue, inaccurate, out of date or incomplete), or FS has reasonable grounds to suspect that the personal information provided by the User is untrue, inaccurate, out of date or incomplete, FS may, at its sole discretion, discontinue the User’s access to the Platform and/or Services. There may be circumstances where FS will not correct, delete or update the User’s personal information, such as (a) where the personal information is opinion data that is kept solely for evaluative purposes; or (b) the personal information is in documents related to a prosecution if all proceedings relating to the prosecution have not been completed. 
  • FS shall retain all of the User’s personal information collected for as long as the User continues to use the Platform. If the User’s account is terminated in accordance with the Onboarding Agreements, FS shall not retain the User’s personal information for longer than is required for the purposes for which the information may lawfully be used or is otherwise required under any other law for the time being in force, provided that FS may hold the User’s personal information in an anonymised and aggregated form for analytic purposes for as long as necessary for FS to provide its Services effectively. 
  • The User may also seek access to its personal information (to a reasonable extent and as permitted by the Personal Data Protection Act 2012) or seek an account of its personal information. Such account shall be in respect of how the User’s personal information has been or may have been generally used or disclosed within the year before the date of the User’s request. FS reserves the right to charge a reasonable administrative fee for carrying out the User’s request. 
  1. Third Party Websites 

  • The Platform contains links to other websites which are not maintained by FS. Similarly, other websites may contain links to the Platform. The User acknowledges and agrees that FS is not responsible for the data privacy practices of such websites. These other websites may place their own cookies or other files on the User’s computer, collect data, or solicit personal information from the User. Accordingly, FS does not make any representations concerning the privacy practices or policies of such third parties or terms of use of such websites. Should the User decide to visit a third party website linked to the Platform, the User shall do this entirely at its own risk. FS encourages the User to read the privacy policies of that third party website. 
  1. Data Protection Officers 

  • FS may appoint a DPO, or such number of DPOs as it may in its sole discretion deem fit. The DPO(s) shall be responsible for ensuring compliance with prevailing privacy and data protection laws and regulations. 
  • Users are entitled to lodge complaints in respect of breaches of this PDPP to the DPO(s), whose details are as follows:

 

DPO Email: [email protected]

 

 

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