1. Introduction
The participating members of the Intergovernmental Fintech Working Group (IFWG) – the Financial Intelligence Centre, the Financial Sector Conduct Authority, the National Creditor Regulator, National Treasury, the South African Reserve Bank and the South African Revenue Service are committed to protecting the confidentiality and integrity of personal information and complying with all applicable privacy and data protection legislation. The participating members of the IFWG recognise that safeguarding and appropriately processing personal information is important to maintain stakeholders’ trust. Inappropriate or inadvertent disclosures and unlawful processing of personal information can damage the IFWG’s reputation and may expose the participating members of the IFWG to significant legal and regulatory liabilities.
This Privacy Policy (Policy) sets out the general principles which underlie the participating members of the IFWG’s specific practices for collecting, disclosing, storing, retaining, disposing, accessing, transferring or otherwise processing personal information in compliance with the Protection of Personal Information Act,2013 (Act No. 4 of 2013) (POPI Act).
2. Collection of Personal Information
By providing us with your personal information, you consent to us processing your information as set out in this privacy disclaimer and in any other manner you expressly consent to in accordance with the POPI Act. The collection of personal information shall be for the sole purpose of achieving the objectives of the IFWG, in accordance with the POPI Act.
2.1 What personal information do we collect?
When you use this website, the participating members of the IFWG collect the following personal information automatically (this will always be recorded without you having to do anything):
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Your IP address, browser and operating system information;
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The date and time that you accessed the website;
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Your geographic location and the pages you view while using the website; and
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Any search terms you use when using the website’s search functionality.
In addition, we collect personal and business information that you voluntarily provide to the IFWG when you submit a query to the Regulatory Guidance Unit or an application to the Regulatory Sandbox, as well as any accompanying information, on the website.
Your personal information shall not be used for purposes other than those for which it was collected, and shall only be disclosed in accordance with this policy or as required by law.
2.1.1 Your correspondence with the IFWG
If you correspond with us by email, the postal service or another form of communication, we may retain such correspondence and use it to respond to your enquiry; to notify you of IFWG conferences, publications or other services; or to keep a record of your compliment, complaint, and/or request.
If you wish to have the IFWG ‘erase’ your personal information or otherwise refrain from communicating with you, please contact us at
innovation@ifwg.co.za.
2.2 What do we do with this information?
The information collected automatically is to help the participating members of the IFWG to improve the functionality and content of the website.
The personal information provided voluntarily will only be used to fulfil the service that you have requested in sharing the information (e.g., respond to your query to the Regulatory Guidance Unit).
2.3 Who do we share it with?
We share the personal information you provide voluntarily and the personal information we collect automatically as set out below:
2.3.1 Personal information provided voluntarily:
Personal information voluntarily provided on the website will be shared amongst participating members of the IFWG in order to fulfil the functions of the IFWG. We will only share information with third parties in order to assist with the development of the website, IT maintenance and related matters.
In other circumstances, we may share aggregated, non-personally identifiable information, such as demographics and statistics on types of services or products.
In certain circumstances, we may be required by law to share your personal information.
2.3.2 Personal information collected automatically:
Some of the personal information that is collected automatically is collected by third parties whose technology we use to provide website functionality and acquire website analytics information. The table below lists the third parties, where they are located, details on opting out of their personal information collection and, if available, their contact details for privacy queries.
2.4 How do we collect your personal information?
Regarding the personal information we collect, we make use of several technologies that collect personal information automatically.
2.4.1. Cookies: Cookies are small files that are saved onto your computer, which track, save and store information about how you use this website. In some instances, these cookies are needed for the website to function. You can disable them in your browser, but this may interfere with the proper functioning of the website.
2.4.2. Google Analytics: This is tracking software from Google, which we use to monitor how users interact with the website for us to improve its functionality and content.
2.4.3. Web-server software: This delivers web pages to your browser. The web-server software will automatically collect your IP address whenever you connect to the website.
2.4.4. YouTube: This is software used to display videos. We do not collect personal information from you by placing these videos on our site or through you viewing them, but Google Inc. (which owns YouTube) collects personal information when videos are placed on webpages.
2.5 Social media platforms and external links
This website may make use of social media platforms, such as Facebook, Twitter and Instagram. Whenever you make use of any such platforms on this website, please note that any personal information you share on these platforms is subject to their privacy policies and not this Policy.
This website also contain links to external (non-IFWG) websites. Whenever you click a link and are taken to an external website, note that your use of these websites is governed by their privacy policies and not this Policy.
3. Retention
Your personal information will be retained only for as long as it is needed, given the purpose for which it was collected, or as required by law (including tax legislation) and any other statutory obligations (including anti-money-laundering and counter-terrorism requirements).
Your personal information may be retained for varying periods from the end of our relationship, depending on legislative requirements.
All reasonable steps will be taken to destroy or deidentify the personal information held when it is no longer required.
4. Security
We are committed to ensuring that your information is secure. To prevent unauthorised access or disclosure, we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect.
5. Changes to this Policy
We may amend this Privacy Policy at any time. All amendments shall be posted on this website. Unless we state otherwise, the current version will replace all previous versions of this notice.
