1.About this Policy
This Privacy Policy explains how FOMESTICS PTY LTD (ACN 697 241 642) (Fomestics, we, us, our) collects, uses, discloses and protects personal information. We are committed to handling personal information in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles.
This Policy applies to visitors to fomestics.au and to customers of our one-off crypto-to-crypto exchange and fiat currency exchange services, once those services become available. At the date of this draft we are not yet providing services.
2.Personal information we collect
Depending on how you interact with us, we may collect:
- Contact information — name, email address, phone number and the content of messages you send us, for example through our contact form.
- Identity information — full name, date of birth, residential address, nationality, identity document details and images, and a facial image or video for liveness checks.
- Business information — for business customers, company details and information about directors, beneficial owners and authorised representatives.
- Transaction information — details of each Exchange, including amounts, assets or currencies, and the wallet address or bank account details you designate.
- Source of funds information — information about the origin of the funds or digital assets you exchange, where required.
- Technical information — IP address, device and browser information, and information collected through cookies. See our Cookies Policy.
Facial images used for liveness and identity matching may be biometric information, which is sensitive information under the Privacy Act. We only collect it with your consent and for identity verification.
3.How we collect personal information
We collect personal information directly from you, through our Website and contact form, and through our identity verification provider when you complete verification. We may also collect information from public sources and from screening databases where this is necessary to meet our legal obligations.
4.Why we collect and use personal information
- to respond to your enquiries;
- to identify and verify you before providing services;
- to execute and record the Exchanges you request;
- to comply with our legal obligations, including under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth);
- to detect and prevent fraud, scams and other financial crime;
- to operate, secure and improve our Website; and
- to communicate with you about our services, including launch updates where you have asked for them.
If you do not provide the information we request, we may not be able to provide our services to you.
5.Who we disclose personal information to
We may disclose personal information to:
- Didit, our identity verification provider, which verifies identity documents and performs liveness checks on our behalf;
- service providers that help us operate our business, such as hosting, IT, email and professional advisers;
- other parties to the extent needed to execute an Exchange you request, such as the provider holding your designated wallet or bank account;
- government agencies and regulators, including AUSTRAC and law enforcement, where we are required or authorised by law; and
- anyone else you have authorised us to disclose it to.
We do not sell personal information.
6.Overseas disclosure
Some of our service providers may store or process personal information outside Australia, including in the United States, where our identity verification provider Didit is incorporated. We take reasonable steps to ensure overseas recipients handle personal information consistently with the Australian Privacy Principles.
7.Storage, security and retention
We take reasonable steps to protect personal information from misuse, interference, loss, and unauthorised access, modification or disclosure.
We are required by law to keep certain customer identification and transaction records, generally for at least seven years. When we no longer need personal information and are not required to keep it, we take reasonable steps to destroy or de-identify it.
8.Access and correction
You can ask to access or correct the personal information we hold about you by contacting us at info@fomestics.au. We will respond within a reasonable time. In some cases the law allows or requires us to refuse access, and we will tell you why where we are permitted to do so.
9.Direct marketing
We will only send you marketing or launch updates where you have asked us to or where the law permits it. You can opt out at any time using the unsubscribe link or by contacting us.
10.Complaints
If you have a concern about how we have handled your personal information, please contact us at info@fomestics.au. We will acknowledge your complaint and aim to respond within 30 days. If you are not satisfied with our response, you can contact the Office of the Australian Information Commissioner (OAIC) at www.oaic.gov.au.
11.Changes to this Policy
We may update this Policy from time to time. The current version will always be available on our Website, with the date it was last updated.