Privacy Policy Statement:

SMI Trading Pty Ltd is committed to the protection and confidentiality of your personal data when you engage with our services through our website, mobile application, or by providing your information to us in any other form. As a provider of money services, SMI Trading Pty Ltd facilitates remittance services for our clients, acting in the capacity of the “controller” of your personal data in accordance with the Privacy Act 1988 (Cth) of Australia, including adherence to the Australian Privacy Principles (APPs). This designation ensures that SMI Trading Pty Ltd determines the purposes and means for processing your personal data, with a steadfast commitment to preserving your privacy rights.

Data Collection and Utilisation:

Upon obtaining your consent, we may collect a comprehensive range of personal data vital for the provision of our services. This includes personal and contact information, identification documents, financial details, and any supplementary “know-your-customer” (KYC) information required for the prevention of fraud and other financial crimes, either obtained directly from you or through third parties. We also gather data related to your service usage, such as transaction history and patterns, to continually enhance our service offerings.

We may collect and hold a range of personal information about you to provide you with our services, including:

• Full Name
  Proof of address
  Phone numbers
  Email addresses
  Occupation
  Beneficiary bank account details
  Proof of ID (Australian Driving Licence or Australian Government-issued ID or International Passport)

Furthermore, we collect technical information such as IP addresses and browser types, mainly for administrative purposes and to compile statistical data on our users’ interaction with our service, in compliance with the Privacy Act 1988 (Cth).

Purpose of Data Collection:

The collection of your personal data is aimed at tailoring and improving our services to more effectively meet your needs. This encompasses processing transactions, verifying identity, managing payments, providing transaction alerts, and supplying relevant service information. Moreover, we may send you marketing communications to keep you informed about updates and promotional offers that are considered relevant to you, based on your prior usage of our services.

How do we collect personal information?

We generally collect personal information directly from you. For example, personal information will be collected through our application processes, forms, and other interactions with you in the course of providing you with our products and services, including when you visit our website, use a mobile app from us, call us, or send us correspondence. We may also collect personal information about you from a third party, such as electronic verification services, referrers, and marketing agencies. If so, we will take reasonable steps to ensure that you are made aware of this Privacy Policy. We may also use third parties to analyse traffic at our website, which may involve the use of cookies. Information collected through such analysis is anonymous.

We will not collect sensitive information about you without your consent unless an exemption in the APPs applies. These exceptions include if the collection is required or authorised by law, or necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct. If the personal information we request is not provided by you, we may not be able to provide you with the benefit of our services or meet your needs appropriately.

At SMI Trading Pty Ltd, we use the Document Verification Service (DVS) to verify a customer’s identity by confirming that the details on their identity document match the government’s records. The DVS can also confirm that the details are still valid and not expired or cancelled. We do not give you the option of dealing with us anonymously, or under a pseudonym. This is because it is impractical, and, in some circumstances, illegal for SMI Trading Pty Ltd to deal with individuals who are not identified.

Legal Basis for Data Processing:

Under the Privacy Act 1988 (Cth) and its Australian Privacy Principles (APPs), the collection of personal data, including KYC details, identity verification, and transaction records, is essential for compliance with our legal obligations. We maintain that processing your data for marketing purposes and operational analysis aligns with your interests as a customer, with the aim of enhancing your overall service experience.

Data Retention and Sharing:

In line with Australian legal requirements, we are obliged to retain customer data for a period of five years after the most recent transaction. Your personal data may be disclosed to third-party service providers engaged by SMI Trading Pty Ltd for operational assistance, under stringent data protection agreements. Data may also be shared with legal authorities under specific conditions as outlined by law.

We ensure that your data will not be sold or transferred to third parties for promotional purposes without your express consent. Our use of cookies is designed to personalize your service experience, with the option for you to manage your cookie settings through your web browser.

In conclusion, the Privacy Policy of SMI Trading Pty Ltd is crafted with the highest standards of privacy and data protection in mind, affirming our dedication to providing secure and personalized money service solutions within the regulatory framework established by the Privacy Act 1988 (Cth) and the Australian Privacy Principles.