Better Banking means we value and protect your personal information. At Security Bank, it is one of our fundamental responsibilities as a financial institution to ensure that we protect the information entrusted to us by our clients and our website visitors. This is in accordance with the Data Privacy Act of 2012 (Republic Act No. 10173), its Implementing Rules and Regulations and other issuances by the National Privacy Commission, as well as globally accepted data privacy standards and regulations. We ensure the employment of proper organizational, physical and technical security measures for the protection of personal information. Furthermore, we adhere to the general principles of transparency, legitimate purpose and proportionality accorded by law as well as recognize your rights as our data subjects. In this Privacy Notice, we explain what personal information we process, how we collect, use, share , protect and dispose personal information that we obtain from you in the course of doing business or as a user of this website.
1) Who we are. Security Bank shall refer to any member of the SBC Group which is Security Bank Corporation and its affiliates, subsidiaries, bank assurance companies and other related entities, and their authorized service providers, agents and representatives.
2) Why we collect your personal information. We collect and use personal information that is material and relevant to your banking transaction and in fulfillment of the legal or contractual obligation we have with you in order to offer you even better products and services and best adapt our business processes to your needs.
3) Scope of this Privacy Notice and consent for processing of personal information. This Privacy Notice applies to the personal information that we collect about you for the purposes of providing you with our services and products. We reserve the right to make changes to this Privacy Notice at any time. We encourage you to regularly review this Privacy Notice to make sure you are aware of any changes on how your personal information may be used. Our Privacy Notice is a controlling document to which you should refer if you have questions about Security Bank’s privacy practices.We process and collect your personal information only with your express consent. Consent of data subject refers to any freely given, specific, informed indication of will, whereby the data subject agrees to the collection and processing of personal information about and/or relating to him or her. This shall be evidenced by written, electronic or any recorded means.
4) What personal information do we collect. Personal information is an information from which your identity is apparent or can be reasonably and directly ascertained. This includes sensitive personal information which serves to classify or qualify you based on different parameters such as age, status, origin, affiliation, health condition and others. It also covers your government issued and kept data such as social security numbers and tax returns. We primarily collect your identification and contact details, employment details, financial or payment information, identification cards, specimen signatures among other relevant personal information so that we can process your transactions throughout the duration of the banking relationship.
5) How we use your information. Manual or automated processing of your personal information within or outside the Philippines is done in utmost confidentiality and strictly in accordance with relevant data privacy laws for the execution of your banking transaction and fulfillment of our legal and contractual obligations with you. Your information may also be processed for other legitimate business purposes and regulatory reporting requirements consistent with the banking services offered as deemed fit by Security Bank such as but not limited to providing information to governmental authorities or private entities in fulfillment of regulatory requirements or contractual arrangements, sharing information for cross-selling of products and services, profiling/data analytics and credit evaluation/reference checks, audit and account balance confirmation. The company has a legitimate interest in disclosing or transferring your personal information to a third party in the event of any business transfer such as a reorganization, merger, sale, joint venture, assignment, transfer or other disposition of all or any portion of our business, assets or stock (including in connection with any bankruptcy or similar proceedings). Such third parties may include, for example, an acquiring entity and its advisors.
6) How we share your information. In the course of doing business, Security Bank may make your personal information available within or outside the Philippines to:
7) How we protect your information. We safeguard the confidentiality, integrity and availability of your personal information physically or electronically by maintaining a combination of organizational, physical and technical security measures based on generally accepted data privacy and information security standards such as on access control, acceptable use, end-to-end encryption, data classification requirements, etc. We may also store your personal information with third-party data storage providers who shall ensure that proper measures are adopted to protect your information in accordance with the bank’s standards.
8) How long we retain your information. We keep your personal information for as long as necessary to best serve you during the duration of the relationship and in accordance with retention limits set by law once the account has been closed.
9) If you have issues with regards to how we process. As our valued customer, you are afforded the following rights in relation to your personal information under the Data Privacy Act which can be viewed in this link https://www.privacy.gov.ph/know-your-rights/
10) Who to contact for issues. If you have any questions or requests in relation to the processing of your personal information, please do not hesitate to contact our Data Protection Officer through the following:
Inquiries sent through our website pages will be transmitted and stored in a safe environment. Since e-mail is not entirely secure, we will not include confidential account information in the response. If we need confidential information from you, a customer service representative will contact you. You may also contact us by phone, mail or by visiting the branch nearest to you. Check if the domain is from securitybank.com (e.g. [email protected]). Make sure that it is not misspelled as some hackers take advantage of this vulnerability.
We will never ask for passwords, credit card numbers, or other personal information in an e-mail. If you do receive an e-mail requesting for this kind of information, don’t reply. If you think the e-mail is legitimate, contact us by phone, mail or visit our nearest branch to confirm.
Visit www.securitybank.com by typing the URL into your address bar
Don’t use the links in an email if you suspect the message might not be legitimate. Instead, call us on the telephone, or log onto the website directly by typing in the Web address in your browser. Those links may take you to a spoofed site that might send all the information you enter to the scam artist who created the site. Even if the address bar displays the correct address, don’t risk being fooled. There are several ways for hackers to display a fake URL in the address bar on your browser.
Regularly check your bank statements
If you check your bank statement regularly, you may be able to stop a scam artist and thwart them before they can cause major damage.
If you feel you have been a victim of fraud, inform us at [email protected], or immediately call our Customer Help Desk at telephone number 8887-9188. For phishing concerns, please email us at [email protected] or [email protected] for credit card.
Although the following are focused on the risks and risk management techniques associated with an electronic delivery channel to protect customers and the general public, it should be understood, however, that not all of the consumer protection issued that have arisen in connection with new technologies has been specifically addressed. Additional policies, guidelines or procedures may be issued in the future to address other aspects of consumer protection as the financial service environment through electronic banking evolves.
1. E-Banking Oversight Function
a.) Security Bank’s Board of Directors and senior management committee are responsible for developing the Bank’s e-banking business strategy and establishing an effective management oversight over e-banking services, encompassing the review and approval of the key aspects of the Bank’s security control program and process, such as the development and maintenance of security control policies and infrastructure that properly safeguard e-banking systems and data from both internal and external threats. It also includes a comprehensive process for managing risks associated with increased complexity of and increasing reliance on outsourcing relationships and third party dependencies to perform critical e-banking functions.
The Bank’s Board of Directors and banks’ senior management shall take necessary steps to ensure that Security Bank has updated and modified where necessary, its existing risk management policies and processes to cover current or planned e-banking services.
b.) Security Bank’s Compliance Officer shall ensure that proper controls are incorporated into the system so that all relevant compliance issues are fully addressed.
Management and system designers are tasked to consult with the Compliance Officer during the development and implementation stages of e-banking products and services. This level of involvement will help decrease the Bank’s compliance risk and may prevent the need to delay deployment or redesign programs that do not meet regulatory requirements.
2. E-Banking Risk Management and Internal Control
a.) Information Security Program
Security Bank, through its Information Technology Group, shall encourage the development of a security culture within the organization. Security Bank shall establish and maintain comprehensive information security program and ensure that this is properly implemented and strictly enforced. The information security program should include, at a minimum, the following:
Security Bank shall perform the appropriate adjustment or update to its information security program in light of any relevant changes in technology, the sensitivity of its customer information and internal or external threats to information.
b.) Information Security Measures
Security Bank shall ensure that information security measures and internal controls related to electronic banking are installed, regularly updated, monitored and are appropriate with the risks associated with its products and services.
(Please refer to Appendix A and Appendix B for the minimum security measures that Security Bank shall employ in its ATM facilities and internet/mobile banking activities, respectively, to protect depositors and consumers from fraud, robbery and other e-banking crimes)
Security Bank shall also take into account other relevant industry security standards and sound practices as appropriate, and keep up with the most current information security issues (e.g., security weaknesses of the wireless environment), by sourcing information from well-known security resources and organizations.
To authenticate the identity of e-banking customers, Security Bank shall employ techniques appropriate to the risks associated with its products and services. The implementation of appropriate authentication methodologies should start with a risk assessment process. The risk should be evaluated based on the type of customer; the customer transactional capabilities (e.g., bill payment, fund transfer, inquiry); the sensitivity of customer information and transaction being communicated to both the Bank and the customer; the ease of using the communication method; and the volume of transactions.
Because the standards for implementing a commercially reasonable system may change over time as technology and other procedures develop, Security Bank and its technology service providers shall continuously review, evaluate and identify authentication technology and ensure appropriate changes are implemented for each transaction type and level of access based on the current and changing risk factors.
Account fraud and identity theft are frequently the result of single-factor (e.g., ID/password) authentication exploitation. Where risk assessments indicate that the use of single-factor authentication is inadequate, Security Bank shall implement multifactor authentication (e.g., ATM card and PIN), layered security, or other controls reasonably calculated to mitigate those risks.
Security Bank’s authentication process shall be consistent with and support overall security and risk management programs. An effective authentication process shall have customer acceptance, reliable performance, scalability to accommodate growth, and interoperability with existing systems and future plans as well as appropriate policies, procedures, and controls.
d.) Account Origination and Customer Verification
With the growth in e-banking and e-commerce, Security Bank shall use reliable methods of originating new customer accounts. Potentially significant risks may arise when a Bank accepts new customers through the internet or other electronic channels. Thus, in an electronic banking environment, Security Bank shall ensure that in originating new accounts, the Know-Your-Clients (KYC) requirement which involves “face-to-face” process is strictly adhered to.
e.) Monitoring and Reporting of E-banking Transactions
Monitoring systems can determine if unauthorized access to computer systems and customer accounts has occurred. Security Bank shall ensure that a sound monitoring system is in-place and that such system includes audit features that can assist in the detection of fraud, money laundering, compromised passwords, or other unauthorized activities.
Security Bank shall be responsible for activation and maintenance of audit logs that can help the Bank identify unauthorized activities, detect intrusions, reconstruct events, and promote employee and user accountability. This control process can also facilitate Security Bank in the submission of suspicious activities reports as required by the Anti-Money Laundering Council (AMLC) and other regulatory bodies.
Security Bank shall see to it that adequate reporting mechanisms are in place to promptly inform security administrators when users are no longer authorized to access a particular system and to permit the timely removal or suspension of user account access.
Whenever critical systems or processes are outsourced to third parties, Security Bank shall ensure that the appropriate logging and monitoring procedures are in place and that suspected unauthorized activities are communicated to the Bank in a timely manner.
An independent party (e.g., internal or external auditor) shall also review activity reports documenting the security administrators’ actions to provide the necessary checks and balances for managing system security.
3. Consumer Awareness Program
Consumer awareness is a key defense against fraud, identity theft and security breach. (Please refer to Appendix C for the minimum Consumer Awareness Program of Security Bank)
Security Bank shall implement and continuously evaluate the effectiveness of its consumer awareness program. Evaluation may include tracking the number of customers who report fraudulent attempts to obtain their authentication credentials (e.g., ID/password), the number of clicks on information security links on websites, the number of inquiries, etc.
4. Disclosure and Business Availability
Security Bank shall provide its customers with a level of comfort regarding information disclosures or transparencies, protection of customer data and business availability that they can expect when using traditional banking services.
To minimize operational, legal and reputational risks associated with e-banking activities, Security Bank shall make adequate disclosure of information and take appropriate measures to ensure adherence to customer privacy and protection requirements (Please refer to Appendix D for the minimum disclosure requirement). Similar to the record keeping requirements on paper-based transactions, Security Bank shall ensure proper safekeeping and monitoring of records or information regarding e-banking financial transactions and disclosures.
5. Complaint Resolution
Security Bank may receive customer complaints either through an electronic medium or otherwise, concerning an unauthorized transaction, loss, or theft in its electronic banking account. Therefore, the Bank shall ensure that controls are in place to review these notifications and that an investigation is initiated as required. Security Bank shall establish procedures to resolve disputes arising from the use of the electronic banking products and services.