Author: Livia Tay, MY
Last Updated: March 24, 2025
Data processing and sharing are essential parts of our operations, allowing us to manage and utilize information effectively. However, it’s crucial that we follow clear terms and conditions (TNC) to ensure data is handled securely, legally, and responsibly. This article will provide an overview of the key rules and guidelines surrounding data processing and sharing within our organization.
Data Processing and Sharing (TNC)
- Data Processing Methods
Lirunex processes personal data using secure servers, encryption protocols, and access restrictions. Data is only processed by authorized personnel under strict confidentiality agreements. -
Data Sharing with Third Parties
Personal data may be shared under specific circumstances.-
Regulatory Authorities: To comply with financial regulations, tax laws, and AML requirements.
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Financial Institutions: Banks and payment service providers for transaction processing.
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Business Partners: Auditors, legal advisors, and IT service providers assisting in platform maintenance.
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Law Enforcement Agencies: If required for fraud prevention, legal investigations, or risk management.
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Marketing Partners: For targeted advertising (users can opt-out).
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International Data Transfers:
Lirunex operates globally, which may involve transferring data to countries with different data protection laws. The company ensures all transfers are conducted in compliance with applicable regulations, using security safeguards such as:-
Data Encryption & Anonymization: To minimize risk during transfers.
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Standard Contractual Clauses (SCCs): When transferring data to non-EU jurisdictions.
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Regulatory Approvals: Ensuring compliance with local data protection authorities.
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By adhering to the established terms and conditions for data processing and sharing, we can ensure that our data practices are secure, transparent, and compliant with relevant laws. It’s important that all team members are aware of and follow these guidelines to protect sensitive information and support our organization's integrity. This shared responsibility helps us foster a culture of trust and accountability, both within the team and with our partners.