Privacy Policy

Introduction and Overview

At phorevastiq, we take your privacy seriously. This comprehensive privacy policy explains how we collect, use, store, and protect your personal information when you interact with our financial services platform. We're committed to transparency about our data practices and ensuring you understand your rights regarding your personal information.

This policy applies to all services offered through phorevastiq.com, including our customer relations tools, financial guidance resources, and educational materials. By using our services, you agree to the collection and use of information as described in this policy.

Information We Collect

We collect various types of information to provide and improve our financial services. Understanding what we collect helps you make informed decisions about sharing your data with us.

Personal Information:

• Contact details including name, email address, phone number, and postal address
• Government-issued identification numbers for verification purposes
• Financial information such as income details, employment status, and banking information
• Demographic information including age, location, and preferences
• Communication records including emails, chat logs, and phone call recordings

Technical Information:

• Device information including IP address, browser type, and operating system
• Usage data such as pages visited, time spent on site, and interaction patterns
• Location data when you enable location services
• Cookies and similar tracking technologies for website functionality

How We Use Your Information

Your information helps us deliver personalized financial services and maintain the security of our platform. We use collected data responsibly and only for legitimate business purposes.

• Service Delivery: Processing your requests, managing your account, and providing customer support
• Financial Analysis: Assessing your financial situation to offer appropriate guidance and recommendations
• Communication: Sending important updates, educational content, and responding to your inquiries
• Security: Detecting fraud, preventing unauthorized access, and maintaining platform integrity
• Legal Compliance: Meeting regulatory requirements and fulfilling legal obligations
• Service Improvement: Analyzing usage patterns to enhance our platform and develop new features
• Marketing: Sending relevant offers and updates about our services (with your consent)

We never use your financial information for purposes unrelated to providing our services. All data processing is conducted in accordance with Australian privacy laws and international best practices.

Data Sharing and Disclosure

We maintain strict controls over who can access your personal information. We only share data when necessary to provide our services or when required by law.

Authorized Service Providers:

• Financial institutions for payment processing and account verification
• Technology partners who help maintain our platform security and functionality
• Professional service providers including legal and accounting firms
• Customer support tools and communication platforms

Legal Requirements:

• Regulatory bodies when required for compliance with financial regulations
• Law enforcement agencies when legally obligated to provide information
• Courts and legal proceedings when subject to valid legal requests
• Government agencies for tax reporting and anti-money laundering compliance

Your Privacy Rights

You have significant control over your personal information. We respect your rights and provide easy ways to exercise them.

• Access: Request copies of all personal information we hold about you
• Correction: Update or correct inaccurate information in your profile
• Deletion: Request removal of your personal data (subject to legal retention requirements)
• Portability: Obtain your data in a structured, machine-readable format
• Restriction: Limit how we process your information in certain circumstances
• Objection: Opt out of direct marketing and certain types of data processing
• Consent Withdrawal: Revoke previously given consent for data processing

To exercise any of these rights, contact our privacy team using the information provided below. We'll respond to your request within 30 days and may need to verify your identity before processing certain requests.

If you're not satisfied with our response, you have the right to lodge a complaint with the Australian Privacy Commissioner or your local data protection authority.

Data Security and Protection

Protecting your information is our top priority. We employ multiple layers of security to safeguard your data against unauthorized access, modification, or disclosure.

Technical Safeguards:

• End-to-end encryption for all data transmissions and storage
• Multi-factor authentication for account access and administrative functions
• Regular security audits and penetration testing by independent experts
• Automated monitoring systems for suspicious activity and breach detection
• Secure data centers with physical access controls and environmental monitoring

Operational Security:

• Staff training on privacy and security best practices
• Background checks for employees with access to sensitive information
• Principle of least privilege for data access
• Regular security awareness programs and incident response drills
• Vendor security assessments and ongoing monitoring

Despite our best efforts, no system is completely secure. If a data breach occurs, we'll notify affected individuals and relevant authorities within 72 hours as required by law.

Data Retention and Deletion

We only keep your information as long as necessary to provide our services and meet legal obligations. Our retention periods vary depending on the type of information and how it's used.

• Account Information: Retained while your account is active plus 7 years after closure for financial records
• Transaction Records: Kept for 7 years to comply with financial regulations and tax requirements
• Communication Records: Stored for 3 years for customer service quality and dispute resolution
• Marketing Data: Retained until you opt out or 2 years of inactivity
• Technical Logs: Automatically deleted after 12 months unless needed for security investigations

When data reaches the end of its retention period, we securely delete it using industry-standard data destruction methods. Some information may be retained in anonymized form for statistical analysis and service improvement.

International Data Transfers

While we primarily store data within Australia, some of our service providers may process information in other countries. We ensure all international transfers meet strict privacy and security standards.

For transfers outside Australia, we use approved safeguards including:

• Standard contractual clauses approved by privacy regulators
• Adequacy decisions recognizing equivalent privacy protections
• Binding corporate rules for transfers within multinational organizations
• Certification schemes and codes of conduct for data processors

We regularly review the countries where your data is processed and update our safeguards to ensure continuous protection. You can request information about specific transfer mechanisms for your data.

Cookies and Tracking Technologies

Our website uses cookies and similar technologies to provide functionality, analyze usage, and personalize your experience. You have control over how these technologies are used.

Types of Cookies We Use:

• Essential Cookies: Required for basic website functionality and security
• Performance Cookies: Help us understand how visitors interact with our site
• Functional Cookies: Remember your preferences and personalization settings
• Marketing Cookies: Used to deliver relevant advertisements and measure campaign effectiveness

You can control cookies through your browser settings or our cookie preference center. Disabling certain cookies may affect website functionality and your user experience.

Children's Privacy

Our services are not intended for individuals under 18 years of age. We do not knowingly collect personal information from children without parental consent.

If we become aware that we've collected information from a child under 18, we'll take immediate steps to delete that information. Parents who believe their child has provided us with personal information should contact us immediately.

For educational content that may be appropriate for younger audiences, we recommend parental supervision and guidance when accessing financial literacy resources.

Changes to This Policy

We may update this privacy policy periodically to reflect changes in our practices, services, or legal requirements. We'll notify you of significant changes through email or prominent website notices.

Minor updates may be posted without individual notification, but we'll always indicate the revision date. We encourage you to review this policy regularly to stay informed about how we protect your information.

Continued use of our services after policy changes indicates your acceptance of the updated terms. If you disagree with changes, you may close your account and request data deletion.