Last Updated: [April 20, 2025]
1. Introduction
Your privacy is important to us at Lexpro Exchange. This Privacy Policy explains how we collect, use, disclose, and safeguard your personal information when you use our services. By using the Lexpro Exchange website or our remittance services, you agree to the terms of this Privacy Policy. We are committed to complying with the Australian Privacy Principles and all relevant privacy laws to protect your data.
2. Information We Collect
We may collect several types of information from and about you, including:
- Personal Identification Information: Such as your name, date of birth, contact details (address, email, phone number), and identification documents (e.g., passport or driver’s license) for KYC verification.
- Financial and Transaction Information: Bank account details or payment information you use to fund transfers, as well as details of the transactions you perform (amounts, currencies, recipient information).
- Usage Data: When you use our website or online portal, we collect technical data like your IP address, browser type, access times, and pages viewed. We may also track activities on our site to improve functionality (using cookies or similar technologies, as described below).
- Verification and Compliance Data: Information obtained from third-party services like ID Fox or credit bureaus (e.g., Equifax) that help us verify your identity or assess risk (such as sanctions or politically exposed person checks).
3. How We Use Your Information
Lexpro Exchange uses your information for purposes including:
- Providing Services: To process your remittance transactions, including converting currency and delivering funds to your designated recipient. For example, we use your bank details to debit your account and your recipient’s details to credit their account.
- Verification and Security: To verify your identity and prevent fraud. This includes using your ID documents and personal information to confirm who you are, as required by AML/CTF laws. It also includes monitoring transactions for suspicious activity.
- Regulatory Compliance: To fulfill our legal obligations. We use your information to submit reports to AUSTRAC or other regulatory bodies as required, and to maintain records as mandated by law (such as keeping transaction records for at least 7 years).
- Communication: To communicate with you about your account or transactions. This may include sending you confirmations, alerts, and notices about the status of your transfers. We may also send service updates or information about new features. You can opt out of marketing emails if you’ve subscribed to those.
- Improvement of Services: To analyze how our services are used so we can improve functionality and user experience. For instance, we might look at usage patterns to optimize our website interface or to troubleshoot performance issues.
- Security: To protect our business and your account against malicious activities. We may use data (like IP addresses or unusual activity logs) to detect and prevent breaches, attacks, or misuse of our platform.
4. How We Share Your Information
We treat your personal information with care and confidentiality. We do not sell your data to third parties. However, we may share information in the following scenarios:
- With Service Providers: We use trusted third-party service providers to help deliver our services. For example, we share necessary details with payment processing partners, banking institutions, or payout agents who complete the money transfer. Likewise, we may share info with identity verification services like ID Fox or fraud detection services. These providers are contractually required to protect your data and use it only for the purposes we specify.
- With Regulatory Authorities: If required by law, we will share information with government and regulatory bodies. For instance, we may provide transaction details to AUSTRAC, law enforcement, or courts if presented with a lawful subpoena, warrant, or request. We also report suspicious activities as required by AML regulations, which could include personal and transaction data.
- Within Our Corporate Group: If Lexpro Exchange is part of a larger corporate group in the future, we might share data with affiliates or subsidiaries for integrated services, consistent with this policy.
- Business Transfers: In the event of a merger, acquisition, or sale of company assets, user information might be transferred to the new entity. If this happens, we will ensure that the new owner honors the commitments we’ve made in this Privacy Policy or notify you if terms change.
- With Your Consent: If you give us explicit permission to share your information in a specific situation, we will do so as instructed. For example, if you agree to participate in a testimonial or case study, we might publish your comments with attribution.
5. Cookies and Tracking Technologies
We use cookies and similar tracking technologies on our website to enhance your user experience. Cookies are small files placed on your device to collect standard internet log information and visitor behavior information. This information helps us:
- Recognize you when you return to our site (so you may not have to log in repeatedly).
- Understand which pages and features are most popular, so we can improve our content.
- Remember your preferences (like language or region selection).
We may use both session cookies (which expire when you close your browser) and persistent cookies (which remain until you delete them). You can control or delete cookies through your browser settings. However, note that disabling certain cookies may affect functionality (for example, the site might not remember your preferences).
6. Data Security
We implement robust security measures to protect your personal information from unauthorized access or disclosure:
- Encryption: All sensitive data transmitted between your browser and our servers (such as login credentials or transaction details) is encrypted using SSL/TLS. This means that when you enter information on our site, it’s coded to prevent interception by third parties.
- Secure Storage: Your data is stored in secure systems with controlled access. We restrict access to personal information to authorized personnel who need it to perform their job duties, and they are bound by confidentiality obligations.
- Continuous Monitoring: Our IT infrastructure is continuously monitored for vulnerabilities, and we regularly update our security protocols in line with industry best practices. We also undergo security audits and penetration testing to ensure our defenses remain strong.
Despite our best efforts, no system can be 100% secure. In the unlikely event of a data breach, we have an incident response plan in place. We will notify affected users and relevant authorities as required by law, and take all necessary steps to mitigate any harm.
7. Data Retention
We retain your personal and transactional information for as long as needed to provide services to you and as required by law:
- Even after you close your account or cease using our services, we may be obliged to keep certain data for a minimum period (for example, transaction records and KYC data are generally kept for 7 years under AML/CTF regulations). This retention helps us comply with audits and legal inquiries and prevent fraud.
- We will not keep personal data longer than necessary. When your information is no longer required for our business or legal needs, we will securely delete or anonymize it.
8. Your Rights and Choices
You have certain rights regarding your personal information:
- Access and Correction: You can request access to the personal data we hold about you. We will provide it, subject to some exceptions (e.g., if providing access would infringe someone else’s privacy or if it relates to anticipated legal proceedings). If any information is inaccurate or out-of-date, you have the right to ask us to correct it, and we will promptly update our records.
- Withdrawal of Consent: If you have consented to optional uses of your data (like marketing emails), you can withdraw that consent at any time. For example, you can unsubscribe from our newsletter or promotional communications via the link in those emails or by contacting us.
- Deletion: In certain circumstances, you may request that we delete your personal information. Keep in mind, due to regulatory obligations, we might not be able to immediately delete data related to financial transactions. We’ll inform you of what can be deleted and what we must retain.
- Complaints: If you have a concern or complaint about how we’ve handled your data, please contact us first (see Contact section below). We will do our best to address it. If you’re not satisfied with our response, you have the right to lodge a complaint with the Office of the Australian Information Commissioner (OAIC) or other relevant supervisory authority.
9. International Data Transfers
Lexpro Exchange primarily operates in Australia. However, the nature of international remittance means some data may be transferred, stored, or processed in other countries:
- If you send money to another country, information may be shared with partners in that destination (for example, a local bank) to complete the transaction. Those partners are typically bound by local laws and our contracts to protect your information.
- We may use cloud services or service providers located outside Australia (for instance, IT servers or support services in other jurisdictions). When we transfer personal data internationally, we take steps to ensure it remains protected. We will only transfer data to countries with adequate privacy laws or use contractual clauses and security measures to safeguard your privacy.
10. Updates to this Privacy Policy
We may update this Privacy Policy from time to time to reflect changes in our practices or for other operational, legal, or regulatory reasons. When we make significant changes, we will notify you by posting a prominent notice on our website or by sending an email notification. The “Last Updated” date at the top will always indicate when the latest changes were made. We encourage you to review this policy periodically to stay informed about how we are protecting your information.
11. Contact Us
If you have any questions, concerns, or requests regarding this Privacy Policy or your personal data, please contact us:
- Email: privacy@lexproexchange.com
- Mail: Privacy Officer, Lexpro Exchange, Level 10, 50 Park St, Sydney 2000, Australia
We take privacy seriously and will address your inquiry as soon as possible.
