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Data Privacy Statement

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Farsun Corporation (“FARSUN”) respects and values your privacy and the secrecy of your account information with us. This Data Privacy Statement (“DPS”) informs you, the Data Subject, the personal data we collect about you, how we collect, use, store, process, share, protect, and delete your personal data with us, and who we will share them with.

This DPS applies to our Data Subjects whether as: (1) current, past, and prospective customers as individuals or corporations; or (2) non-clients – visitors or inquirers at our online channels, representatives of corporate clients; and such other persons involved in transactions with our customers.

COLLECTION OF YOUR PERSONAL AND SENSITIVE PERSONAL INFORMATION

Personal Information refers to any information that identifies or is linkable to a natural person. On the other hand, Sensitive Personal Information is any attribute that can distinguish, qualify, or classify a natural person from the others such as data relating to your ethnicity, age, gender, health, religious or political beliefs, genetic, or biometric data. (Collectively, “Personal Data”)

We collect your Personal Data when you register, signup, or use services or communicate with us about them. We also collect through your authorized organization, whether private corporation or government instrumentality.

The Personal Data we collect and the manner we process them may differ depending on the type of transaction or engagement you have with us. We collect your Personal Data to confirm your identity and provide you with the relevant products and services. We use the Personal Data we collect to personalize our products and services to fit your needs, to aid us in our research to provide better products and services, and to communicate with you to provide updates.

KINDS OF DATA WE COLLECT AND PROCESS 

The foregoing data shall be collectively referred to as “Customer Data.”

  1. Identification Data: refers to Personal and Sensitive Personal Information we collect when you sign up or register to our products and services, such as full legal name, gender, date of birth, nationality, civil status, permanent address, present address, email address, mobile number, office contact details, company name, job position or rank, office address, source of funds, gross annual income, and such other information necessary to conduct due diligence.

  2. Financial Data: information about the value of your corporation/business,  and potential your credit history to ensure that there will be no disruption when business has commenced

  3. Sensitive Personal Information: we may require the following Sensitive Personal Information for customer verification, your government-issued identification numbers or cards such as passport or driver’s license ID; or any information that is necessary, incidental to contractual agreement, or in connection with a requested product or service.

  4. Relevant Individuals: upon your authorization, we may collect information about your family members, beneficiaries, attorneys, attorneys-in-fact, shareholders, beneficial owners whenever applicable, persons under any trust, trustees, partners, committee members, directors, officers or authorized signatories, guarantors, and other security and other individuals.

 

DATA PROCESSING

Processing means any activity pertaining to the collection, recording, organization, storage, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure, or destruction of Customer Data.

We process Customer Data only for legitimate purposes and with lawful basis such as your consent to be bound by this DPS upon application and submission of the signed terms and conditions and application forms, the terms and conditions of the product or service you signed up with us, and as required by our legal obligations, laws and regulations. We ensure that only authorized employees and third-party service providers, who satisfy our stringent risk management, governance, information security, and data privacy requirements, can process your data.

  • Data Storage

    • We store Customer Data in secure environment.

    • We store physical copies of documents containing Customer Data in physical secure vaults.

  • Data Access

    • Customer Data can only be accessed by authorized personnel

  • Data Use

    • Customer Engagement

      • We use your contact information to communicate regarding your relationship with us.

      • We may send notifications about product enhancements and security reminders via email, calls, SMS, or newsletters.

      • We may also contact you to verify identities or authorities of relevant individuals or your representatives.

    • Marketing

      • We may use your contact information to send out commercial campaigns featuring products and services we believe you will find interesting, relevant, and useful.

    • Due Diligence

      • We may use Customer Data to evaluate your business requirements and capacity for Farsun products and services.

      • In assessing your ability repay the products and services

    • Cross-Sell

      • We use your Customer Data to offer products and services that we believe may be of interest to you. This may include products or services offered by our subsidiaries, affiliates, or trusted third-party partners.

    • Business Insights

      • We perform data analysis and reporting based on your Customer Data and how we improve our products and services and to aid our management make better decisions.

  • Data Retention

    • We keep your data as long as necessary: a) for the fulfillment of the declared, specified, and legitimate purposes, or when the processing relevant to the purposes has been terminated; b) for the establishment, exercise or defense of legal claims; or c) for legitimate business purposes.

  • Data Deletion

  • We dispose of personal data in a secure manner in order to prevent further processing, unauthorized access, or disclosure to any other.

RIGHTS OF THE CONSUMER

Under the Data Privacy Act of 2012, you have the following rights:

  1. Right to be informed – you may demand the details as to how your Customer Data is being processed or has been processed by UnionBank, including the existence of automated decision-making and profiling systems. This also includes our notification efforts prior to processing of your Customer Data and mandatory notification in case of data privacy breach.

  2. Right to access – upon written request, you may demand reasonable access to your Customer Data, which may include the contents of your processed Customer Data, the manner of processing, sources where they were obtained, recipients, and reason of disclosure.

  3. Right to dispute – you may dispute inaccuracy or error in your Identification Data in the Bank systems through our contact center representatives.

  4. Right to correct – you may require UnionBank to correct any Identification Data relating to you which is inaccurate.

  5. Right to object – you may suspend, withdraw, and remove your Identification Data from certain further processing, upon demand, which includes your right to opt-out to any commercial communication or advertising purposes of the Bank.

    1. You may exercise your right to Opt-Out by providing your Request through the following official FARSUN channels:

      1. Email to contact@farsunservices.com

      2. “Unsubscribe” link in EDM;

    2. Consumers’ right to Data Deletion is subject to data retention requirements and to certain limitations. We will exclude you from receiving advertisements and other notifications through FARSUN official communication channels.

    3. You will be informed of the limits and bounds of such request. The Opt-Out Request shall be processed within seven (7) business days after submission. You likewise understand that prior to such Opt-Out Request, your Customer Data has already been and will still be processed and shared in accordance with this DPS for opportunity sizing, risk analysis, profiling, and such other necessary processing for FARSUN to provide you with products and services and to comply with our legal and regulatory obligations.

  1. Right to data erasure – based on reasonable grounds and subject to applicable laws and regulations, you have the right to suspend, withdraw or order blocking, removal or destruction of your personal data from FARSUN’s database.

  2. Right to data portability – you have the right to obtain from FARSUN your Identification Data in an electronic or structure format that is commonly used and allows for further use.

  3. Right to be indemnified for damages – as data subject, you have every right to be indemnified for any damages sustained due to such violation of your right to privacy through inaccurate, false, unlawfully obtained or unauthorized use of your Personal Data.

  4. Right to file a complaint – you may file your complaint or any concerns with our Data Protection Officer or with the NPC through privacy.gov.ph.

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