Terms of Service
Welcome to Dassen Private Bank. These Terms constitute a legally binding agreement between you and our institution regarding the use of our wealth management and digital banking platforms.
Definitions
"Bank" refers to Dassen Private Bank and its global subsidiaries.
"Client" refers to the high-net-worth individual or corporate entity holding an active dossier with our institution.
"Digital Terminal" refers to the secure online portal and mobile application used for asset management.
Account Security
Institutional Safeguards
We employ military-grade 256-bit encryption. Clients are responsible for securing their hardware tokens and credentials. Report any suspected breach to your Private Banker immediately.
Transaction Limits
Standard electronic transfers are tier-based. Transfers exceeding ZAR 1,000,000 require secondary voice authorization.
Privacy Policy
Your information is protected under the Dassen Islands Data Protection Act. We do not share client details with third-party marketing entities. Disclosure occurs only when mandated by valid court order or international tax treaty (FATCA/CRS).
Information Sharing & Disclosure
We maintain strict confidentiality and never sell personal information. Disclosure occurs only under the following circumstances:
11.1 Service Providers
Trusted third parties performing services on our behalf:
- IT infrastructure and cloud storage providers
- Payment processors and correspondent banks
- Legal and accounting advisors
- Customer service centers
- Credit reference agencies
All providers are contractually bound to maintain confidentiality and use information solely for specified purposes.
11.2 Regulatory & Legal Disclosure
Disclosure may occur when required by law to:
- Dassen Islands Monetary Authority (CIMA)
- Financial Reporting Authority (FRA) for suspicious activity reports
- Tax Information Authority for CRS/FATCA reporting
- Law enforcement agencies with proper legal authority
- Courts and tribunals responding to valid legal process
11.3 International Transfers
As an international institution, we may transfer information to jurisdictions outside the Dassen Islands. All transfers are protected by:
- Standard Contractual Clauses approved by data protection authorities
- Adequacy decisions recognizing equivalent protection levels
- Binding Corporate Rules for intra-group transfers
Data Security
We implement comprehensive technical and organizational measures to protect your information:
12.1 Technical Safeguards
- 256-bit AES encryption for data at rest; TLS 1.3 for data in transit
- Multi-factor authentication for all electronic banking access
- Firewalls, intrusion detection systems, and network segmentation
- Regular penetration testing and vulnerability assessments
- Secure data centers with physical access controls and redundancy
12.2 Organizational Measures
- Staff confidentiality agreements and background checks
- Role-based access controls limiting data access to authorized personnel
- Regular privacy and security training for employees
- Incident response procedures for breach notification
12.3 Data Retention
We retain information only as long as necessary to fulfill outlined purposes or as required by law:
- Active accounts: Duration of relationship plus 7 years
- Transaction records: 7 years following transaction date (per AML regulations)
- Closed accounts: 7 years after closure
- Marketing preferences: Until consent withdrawal or 3 years of inactivity
Cookies & Tracking Technologies
Our digital platforms use cookies and similar technologies to enhance experience and security.
13.1 Types of Cookies
- Essential: Required for platform operation, security, and fraud prevention (cannot be disabled)
- Functional: Remember preferences like language and accessibility settings
- Analytics: Help us understand visitor interactions (Google Analytics, internal tools)
- Security: Detect malicious activity and prevent fraud (Cloudflare, rate limiting)
13.2 Cookie Management
You can manage preferences through browser settings. Note: disabling essential cookies may prevent access to online banking services. We do not use cookies for behavioral advertising or cross-site tracking.
Your Privacy Rights
Under the Dassen Islands Data Protection Act, you hold the following rights regarding your information:
14.1 Right of Access
Request a copy of the information we hold about you, subject to identity verification and applicable legal exceptions.
14.2 Right to Rectification
Request correction of inaccurate or incomplete information. Certain changes (e.g., name updates) may require supporting documentation.
14.3 Right to Erasure ('Right to be Forgotten')
Request deletion where:
- Information is no longer necessary for original purposes
- You withdraw consent and no other legal basis exists
- Processing is unlawful
Note: This right is subject to legal obligations to retain certain records (e.g., AML records must be kept for 7 years).
14.4 Right to Restrict Processing
Request temporary restriction of processing while we verify accuracy or consider objections.
14.5 Right to Data Portability
Receive your information in a structured, machine-readable format and transmit it to another controller.
14.6 Right to Object
Object to processing for direct marketing purposes or where processing relies on legitimate interests.
14.7 Exercising Your Rights
To exercise any right, contact our Data Protection Officer below. We respond within 30 days of receiving a verified request.
Contact Legal
For inquiries regarding this framework, contact our compliance department:
compliance@dassenprivate.com
+27 21 100 4879