Lirunex Privacy Policy Framework for South African Traders

Data Collection Practices at Lirunex

At Lirunex, we apply rigorous data collection procedures aligned with South African regulations. During registration, we request personal details such as full name, South African ID number, residential address, and contact data. Financial information collected includes bank account details, payment preferences, and transaction records. We also track trading activities including preferred instruments, position sizes, and profit/loss history. Device information like IP addresses, operating systems, and browser types is gathered to enhance security and platform functionality.

Personal Information Categories

Verification processes require submission of South African ID documents, passports, or driver’s licenses. Proof of address must be recent utility bills, bank statements, or municipal invoices not older than three months. Financial verification involves income proofs, bank statements, and source of funds declarations. These documents ensure compliance with KYC regulations.

Automated Data Collection

Our platform automatically logs login times, session lengths, and navigation behaviors to optimize user experience. Chart preferences, indicator configurations, and order execution timestamps are recorded to facilitate trading analysis. Security systems monitor failed login attempts, suspicious activity flags, and device fingerprints to detect potential threats.

Information Processing and Storage

We handle all collected data using secure servers housed in ISO 27001-certified data centers within South Africa. Personal data is encrypted at rest and in transit using AES-256 and TLS 1.3 protocols respectively. Our processes include identity checks, risk assessments, transaction monitoring, and customer support. Machine learning models perform risk scoring and compliance automation to reduce manual oversight. Data analytics improve platform performance and user experience by identifying usage patterns and bottlenecks.

Data Security Measures

Our security stack features multi-layer firewalls, intrusion detection, and continuous monitoring. Access control is enforced via role-based permissions combined with mandatory two-factor authentication for all staff. Quarterly penetration tests by certified third parties assess system resilience. Encrypted backups are kept in geographically diverse locations to prevent data loss. Incident response protocols guarantee breach containment and user notification within 72 hours as required by South African law.

Third-Party Data Sharing Protocols

Lirunex shares client data only with authorized partners under strict contractual privacy obligations. Payment processors receive necessary details to facilitate deposits and withdrawals. South African regulatory bodies access records during audits or investigations. Identity verification firms assist with KYC through encrypted data exchanges. Liquidity providers are supplied anonymized trading data to support market making. Customer support platforms analyze communication histories to improve service quality.

• Payment processors for transaction handling
• Regulatory authorities for compliance checks
• Identity verification companies for KYC
• Liquidity providers for market data
• Customer support tools for service delivery

Regulatory Compliance Sharing

The Financial Sector Conduct Authority (FSCA) may request client information during regulatory reviews. Anti-money laundering investigations require transaction histories to be shared with relevant South African authorities. We comply with tax reporting by providing annual trading summaries to the South African Revenue Service (SARS).

Service Provider Agreements

All third-party vendors sign detailed data protection agreements including liability and breach notification clauses. Service level agreements specify data handling procedures and privacy compliance. We conduct regular audits to verify vendor adherence to South African data protection laws and our internal standards.

User Rights and Data Control

Clients in South Africa have clearly defined rights under our privacy policy. Users can request access to their stored personal data within 30 days. Corrections of inaccurate details are enabled through the client portal. Deletion requests result in data removal except where retention is legally mandated. Data portability allows users to receive their information in machine-readable formats. Clients may also object to marketing communications and limit non-essential processing.

Access Request Procedures

To request data access, users must log into the Lirunex client portal and navigate to the “Privacy Rights” section. After selecting “Data Access Request”, they complete a verification form and submit it. The team processes requests within 30 calendar days. Results are delivered via encrypted email or secure portal download.

• Log into client portal
• Open “Account Settings”
• Select “Privacy Rights”
• Choose “Data Access Request”
• Complete verification form
• Submit and await confirmation

Data Correction Process

Users identify incorrect information in their profile and access the “Personal Information” tab. They update details and upload supporting documents if necessary. Submitted corrections are reviewed and confirmed within 5 business days.

Cookie Management and Tracking

Lirunex uses essential cookies to maintain authentication, session control, and security. Performance cookies optimize platform loading times and detect technical faults. Functional cookies save user preferences such as language choice and chart setups. Marketing cookies monitor engagement for ad targeting and campaign tracking. Analytics cookies collect data on feature usage and platform interactions. Third-party cookies from payment and verification services support transaction processing.

Cookie Categories and Controls

Essential cookies cannot be disabled without disrupting platform function. Optional cookies are manageable via browser settings or our cookie preference center. Users may accept or decline non-essential cookies without affecting core operations.

Browser Configuration

Users can configure cookie preferences by adjusting their browser’s privacy settings. Clearing cookies resets stored preferences and tracking data. Enabling “Do Not Track” signals communicates privacy choices to our servers.

Data Retention and Deletion Policies

We retain client data in accordance with South African financial regulations and operational needs. Identification documents are stored for seven years post account closure. Trading records and transaction histories remain for five years following last activity. Communication logs including support tickets are preserved for three years. Marketing consent records are retained until consent withdrawal or account deletion. Backup systems purge expired data automatically according to scheduled routines.

Automated Deletion Schedules

Monthly processes remove expired data automatically. Soft deletion transfers records to quarantine for 90 days before permanent erasure. Hard deletion ensures data is removed from all primary and backup storage locations. Audit logs document all deletions to verify compliance. Exceptions are handled for data under regulatory retention requirements.

• Monthly automated expired data removal
• 90-day quarantine for soft-deleted records
• Permanent deletion from all backups
• Audit log verification
• Regulatory hold exception management

Manual Deletion Requests

Clients can submit deletion requests through the portal with valid identity verification. They specify which data categories are to be removed. Some data may remain due to South African legal retention obligations.

Privacy Policy Updates and Notifications

Our privacy policy undergoes regular review to maintain compliance with South African laws. Material changes are communicated 30 days in advance via email and platform notification banners. Minor updates are posted immediately with banner alerts in the client portal. Version control preserves all previous policy versions for client reference. Change logs document modifications with dates for transparency. Our legal team reviews all updates to ensure regulatory adherence.

Notification Procedures

Clients receive email alerts on significant privacy policy changes. Login session banners ensure visibility of updates. SMS alerts may be issued for urgent changes impacting data processing or user rights.

Change Implementation Timeline

Policy drafts undergo internal legal review lasting 14 days. Clients may submit feedback during public comment periods. Final policy versions take effect after the 30-day notice period concludes.

Contact Information and Support

Our Data Protection Officer manages all privacy inquiries and complaints for South African clients. Contact the privacy team at [email protected] for data protection questions. Phone support is available Monday to Friday, 8 AM to 6 PM SAST, at +27-11-555-0123. Postal correspondence can be sent to Lirunex South Africa, 123 Sandton Drive, Sandton, Johannesburg, 2196. Response times for privacy matters average between 3 and 5 business days. Complex issues are escalated to senior privacy officers for prompt resolution.

Support Channel Options

Email support provides detailed, documented responses. Live chat offers immediate help for simple privacy questions during business hours. Phone support handles urgent queries requiring swift action.

• Email: [email protected] (3-5 business days response)
• Phone: +27-11-555-0123 (Mon-Fri, 8 AM-6 PM SAST)
• Live Chat: Available in client portal (9 AM-5 PM SAST)
• Postal: 123 Sandton Drive, Sandton, Johannesburg, 2196
• Escalation: Senior privacy officer review for complex issues

Protecting your privacy is central to our operations in South Africa. We continually refine our data protection strategies to surpass legal requirements. Our staff complete ongoing training to stay current with privacy regulations and best practices. Lirunex remains committed to safeguarding your personal and trading information at every interaction.