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EM FINANCE CORPORATION PRIVACY POLICY AND CREDIT REPORTING POLICY

 

PRIVACY POLICY

Privacy Statement

EM Finance Corporation Pty Ltd, A.C.N. 097 851 324, (“EMFC”) takes its obligations to protect the privacy of personal information seriously. We are bound by, and will abide by, the Australian Privacy Principles in the Privacy Act 1988 (Cth) (“Privacy Act”) and the Credit Reporting Privacy Code (CR Code). This privacy statement sets out how we manage personal information and the steps we take to protect it.

Personal information is defined in the Privacy Act as “information or an opinion (including information or opinion forming part of a database), whether true or not, and whether recorded in a material form or not, about an individual whose identity is apparent, or can reasonably be ascertained, from the information or opinion.”

What personal information do we collect and hold?

For the purpose of conducting our business, we collect and hold personal information about our customers, prospective customers, prospective employees, contractors, suppliers, introducers, agents, service providers and the people who run the businesses we deal with.

The type of information we collect and hold may vary depending on the nature of our interactions with you. For example, when providing credit we would collect and hold identification information, financial information, credit related information, identification information, transaction / repayment information, banking details, employment details, and tenancy details. We will also collect and hold name and contact details.

This personal information may include:

  • Name;
  • Address and other contact details;
  • Date of birth;
  • Gender;
  • Occupation and employment details;
  • Income and liabilities
    • Banking details;
    • Personal references.

We normally do not collect sensitive information such as information or an opinion about your health, race, political beliefs, trade union membership, religious or philosophical beliefs, sexual orientation, criminal record, or ethnic origin. If we do, it is only where this is relevant and the sensitive information is provided by you or provided with your consent. For example, you may be suddenly struck by a health problem which affects your ability to maintain your loan obligations for a period. You might then contact us to explain your circumstances and to request a variation to the loan.

So that we may satisfy our legal obligations, we may need to retain your information after the contractual period has ended, however, we will not retain your identifiable personal information longer than is reasonably necessary and permitted under Australian law.

From what sources do we collect information?

EM Finance collects information from the following sources:

  • Non-public, personal information you knowingly choose to disclose, which is collected on an individual basis;
  • Website use information collected on an aggregate basis as you and others browse our website. If you choose to correspond through e-mail, we may retain the content of your e-mail messages together with your e-mail address and all responses sent through our website. We provide the same protections for these electronic communications as we employ in the maintenance of information received by mail and telephone;
  • Information we receive from you on applications or other forms;
  • Information about your transactions with our affiliated dealers;
  • Information from a consumer credit reporting body;
  • Information we obtain to verify representations made by you, such as your banking account information or information about loans with other financial institutions; and
  • Information we obtain to verify your identity or contact details.

Information we obtain from a person regarding their employment, credit, tenancy or other relationship with you.

How we collect personal information

Wherever it is possible and practical to do so, we collect personal information directly from the person concerned. For example, we will collect personal information when a person deals with us in person or over the telephone, sends us a letter, e-mail and attachment or fax, or gives or sends us a completed form (such as an application form or other documentation). There may be occasions, however, where we need to collect personal information we require for a particular purpose from a third party. This might occur, for example, where it is important for us to obtain personal information from an independent third party for verification purposes or credit history information. Where we do this, we first obtain your consent.

Why do we collect and hold personal information?

We collect this information in order to administer or enforce the loans we provide, to maintain the business relationships we have that enable us to carry on our business or to recruit staff. We may sometimes use the personal information we collect for a secondary purpose, that is, for use in a way different from the original reason for the collection. We will do this where you have consented, where the secondary purpose is directly related to the primary purpose and you would reasonably expect us to use or disclose the information in such a way, where we are permitted or required by law or where it is in the interests of public safety to do so. We may also use personal information to keep our borrowers informed of other products and services we may have, which may include using it for direct marketing. If you do not wish to receive this information, please let us know and we will remove your name from our marketing mailing lists. We never sell or disclose any personal information to third parties for direct marketing by other organisations.

To what other organisations do we disclose personal information?

We may divulge your personal information to: credit providers and credit reporting agencies; our legal advisors and/or local, district or supreme courts; your authorised agents, including your legal or financial advisors; our service providers where we outsource functions such as process serving. We may also share personal information provided by you to our related bodies corporate. Separately, in managing a loan you have with us, we may contract with other businesses and may disclose personal information to them in the process.

These organisations provide services to EMFC and may need access to the personal information we hold in order to enable them to perform those services. We require these companies to adhere to our strict confidentiality requirements for handling personal information and also seek to ensure that they adhere to the National Privacy Principles. We do not send your personal information overseas for data processing or for any other reason.

We may be required under Australian law to provide information to government and law enforcement authorities on request.

Protection of personal information and email

We will take all reasonable steps to ensure the security of all personal information we collect, including the use of locked or secure storage of hard copy records and secure access rights to computerised records. Our staff are required to respect the confidentiality of personal information and take this obligation seriously.

As an added protection against unlawful hackers, it is most important that when you submit feedback or questions to us via electronic means that you do not disclose any details that could be used by others to gain access to your financial accounts. This includes private details such as your bank account or credit card number. However, please note that our electronic communication system has security protection. We also take reasonable steps to destroy or de-identify personal information if in our opinion it is no longer needed for the purpose for which it was collected. In order to satisfy certain legal obligations we may need to retain certain personal information even after a transaction has come to an end.

Cookie and web server information collection

Cookies, a small piece of information stored in your web browser by our website, allow us to collect important business and technical statistics. The cookies help us track how users are navigating and using the website and allow us to monitor site visits and adjust capacity as necessary. Cookies do not capture an individual’s information.

If you apply for a loan through EM Finance online, your data is kept secure with the use of Secure Socket Layer (SSL) and other encryptions before it is sent. The packet information is encrypted en-route and decrypted when it reaches our servers. We recommend you send personal information only through SSL encrypted web sites as there is a chance that it could be intercepted in an unencrypted form. SSL encryption is the industry standard and is commonly used in Internet applications that require security and privacy for sensitive data.

Children's online privacy protection

EM Finance does not knowingly solicit data from, nor knowingly market to, individuals under the age of 18.

Your ability to access and correct your personal information

We will take all reasonable steps to ensure that your personal information which we collect, hold, use or disclose is accurate, complete and up-to-date. If you wish to obtain details of your personal information that we hold, please contact us as set out below. If you believe the information we hold about you is incorrect or obsolete, you may also request that the information about you be corrected or deleted. We will attend to your request as quickly as possible taking into account the age, nature and amount of information requested. However, before correcting or providing access to any personal information in response to a request, EMFC will require the individual’s identity to be confirmed. We reserve our right to refuse your request for access or correction where we are legally entitled to do so. We will give you our reasons for refusal. Access may be denied, for example, where release of information may have an unreasonable impact on the privacy of others.

Your ability to make a complaint

Any privacy related complaint including complaints about breaches of the Privacy Act 1988 or the CR Code should be directed as set out below. EMFC will respond with a written notice that acknowledges the complaint and investigate the complaint. This may involve consultation with credit providers, dealers or third parties, or credit reporting bodies. EMFC will also provide a written decision following the investigation and details of the right to refer the matter to our external dispute resolution scheme, namely:

Credit and Investments Ombudsman
PO Box A252
Sydney South NSW 1235
Telephone: 1800 138 422
Website: www.cio.org.au

Identifiers

We only use internally issued identifiers to identify you for our purposes. We do not use for our purposes or disclose a government identity number, such as a tax file number.

Anonymity

Wherever it is lawful and practicable, individuals have the option of not identifying themselves when contacting us. However, we do not believe that there are many transactions that can be conducted if individuals do not identify themselves, as this is not practicable in our business.

Updating our privacy statement

We will review and may revise our privacy statement from time to time.

If the changes to our privacy statement are not consistent with our contractual obligation to you, that contractual obligation will prevail over any revisions to the privacy statement unless otherwise required by law.

Contact details for privacy matters, compliance and complaints

The Manager - Privacy & Compliance
EM Finance Corporation Pty Limited
Australian Credit Licence 388274
PO Box 708
Lindfield NSW 2070

Telephone: 02) 9416 4999
Website: www.emfinance.com.au
Email: compliance@emfinance.com.au

 

CREDIT REPORTING POLICY

Credit reporting statement

EM Finance Corporation Pty Ltd, A.C.N. 097 851 324, (“EMFC”) takes its obligations to protect personal information including credit information seriously. We are bound by, and will abide by, the Australian Privacy Principles in the Privacy Act 1988 (Cth) (“Privacy Act”) and the Credit Reporting Privacy Code (CR Code). This credit reporting statement sets out how we manage credit information and the steps we take to protect it.

Credit reporting information includes details about your loans with us including information relating to:

  • Identification – such as name, address, date of birth, employer;
  • Consumer credit liability – this is information about your loans with us, including the type of credit provided, the date the account was opened and closed, the amount of credit provided, and the terms and conditions relating to the repayment of those loans;
  • Repayment history – this is information relating to whether you have met the obligations payable under the contract and if the payment is made after it is due, the day on which it was made;
  • Information requested from a credit reporting body;
  • Default information – this includes information about a payment that is overdue in relation to the credit contract if more than 60 days overdue;
  • Payment information – this is information that an overdue payment in relation to which default information was provided to a credit reporting body has been paid;
  • New arrangement information – this is information that you have entered into certain arrangements with EMFC in relation to your consumer credit where you have been overdue in making a payment and we have provided default information to a credit reporting body and this may include that the terms or conditions of that consumer credit contract have been varied as a result of you being overdue or that you have been provide with a revised amount of credit;
  • Court proceedings information – this is information that a judgement has been made against you in an Australian court relating to the consumer credit that was provided to you;
  • Personal insolvency information – this is information held in the National Personal Insolvency Index about any bankruptcy, debt agreement proposal given by you, debt agreement entered into by you, personal insolvency agreement entered into by you, any order made or authority signed under the Bankruptcy Act that relates to your property;
  • Publicly available information that relates to your activities in Australia or credit worthiness;
  • An opinion on reasonable grounds that a serious credit infringement has been committed by you in relation to the consumer credit provided to you by EMFC. A serious credit infringement may include such matters as – that you fraudulently obtained, or attempted to obtain, consumer credit; that you fraudulently evaded, or attempted to evade, your consumer credit obligations; or that you are no longer intending to comply with your consumer credit obligations and we have not been able to contact you for six months under the Privacy Act.

EMFC does not disclose your credit information to overseas organisations except where permitted under the Privacy Act and where those organisations are service providers to EMFC.

How we collect credit information

We collect credit information in a variety of ways and this may include directly from you, from our dealers, or from those acting on your behalf.

We also collect and receive information from credit reporting bodies to assist us in assessing your application for consumer credit with us and to evaluate your credit worthiness.

EMFC and credit reporting bodies

Credit information may also be sourced from a credit reporting body.

This may include any information relating to identification, consumer credit liability, repayment history, the type and amount of credit sought, defaults, payments, new arrangements entered into, court proceedings, personal insolvency, publicly available information and information regarding a reasonably held opinion that a serious credit infringement has been committed. This also includes credit worthiness information that is derived from the types of credit information above that is expressed as credit scores or risk factors.

EMFC may also disclose credit information relating to your consumer credit application or account with us to a credit reporting body and this may in turn be disclosed to other credit providers to assist their evaluation of your credit worthiness.

This includes providing details that identifies you and about consumer credit you are applying for with us to a credit reporting body, and information that you have failed to meet your credit obligations with us or that you have committed a serious credit infringement in relation to the consumer credit provided to you by EMFC. In specified circumstances, we may be entitled to disclose this type of information to a credit reporting body and this credit reporting body is required to have a policy explaining how they manage your credit related personal information and you can contact them directly for further information.

EMFC discloses credit information to:

Veda Advantage Information Services and Solutions Limited
PO Box 964,
North Sydney NSW 2059
Website: www.veda.com.au

You also have the right to request a credit reporting body to not use or disclose your credit information if you reasonably believe that you have been, or are likely to be, the victim of fraud or identity theft. You should contact the credit reporting body directly to report this.

Protecting your credit information and credit eligibility information

EMFC takes it’s responsibility to protect your information seriously and has in place practices, procedures and systems to ensure your information is free from misuse, interference, loss, unauthorised access or modification.

Why we collect, hold, use and disclose credit information and credit eligibility information

We collect this information in order to administer or enforce the loans we provide, and to maintain the business relationships we have that enable us to carry on our business.

Your ability to access and correct your credit information

We will take all reasonable steps to ensure that your credit information which we collect, hold, use or disclose is accurate, complete and up-to-date. If you wish to obtain details of the credit information that we hold, please contact us as set out below. If you believe the information we hold about you is incorrect or obsolete, you may also request that the information about you be corrected or deleted. We will attend to your request as quickly as possible taking into account the age, nature and amount of information requested. However, before correcting or providing access to any personal information in response to a request, EMFC will require the individual’s identity to be confirmed.

We reserve our right to refuse your request for access or correction where we are legally entitled to do so. We will give you our reasons for refusal. Access may be denied, for example, where release of information may have an unreasonable impact on the privacy of others or if we consider the request is frivolous or vexatious. While there is no charge for making a request for access, we may apply an administration fee for providing access in accordance with your request.

Your ability to make a complaint

Any privacy related complaint including complaints about breaches of credit reporting obligations or under the Privacy Act 1988 or the CR Code should be directed as set out below. EMFC will respond with a written notice that acknowledges the complaint and investigate the complaint. This may involve consultation with credit providers, dealers or third parties, or credit reporting bodies. EMFC will also provide a written decision following the investigation.

The Manager - Privacy & Compliance
EM Finance Corporation Pty Limited
Australian Credit Licence 388274
PO Box 708
Lindfield NSW 2070

Telephone: 02) 9416 4999
Website: www.emfinance.com.au
Email: compliance@emfinance.com.au

You also have the right to refer the matter, following an internal dispute process, to our external dispute resolution scheme, namely:

Credit and Investments Ombudsman
PO Box A252
Sydney South NSW 1235
Telephone: 1800 138 422
Website: www.cio.org.au

We are a member of Credit Ombudsman Service Limited Australian Credit Licence: 388274
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