Data Protection

Privacy Policy

Your privacy matters to us. Learn how we collect, use, and protect your personal information.

Last updated: January 1, 2024

Our Privacy Commitment

East African Gold Exchange is committed to protecting your privacy and ensuring the security of your personal information. This Privacy Policy explains how we collect, use, store, and protect your data when you use our gold trading platform.

1. Information We Collect

Personal Information:

  • Name, email address, phone number, and postal address
  • Government-issued identification documents
  • Business registration and licensing information
  • Financial information including bank account details
  • Professional qualifications and certifications

Trading Information:

  • Gold listings, purchase requests, and transaction history
  • Communication records with other platform users
  • Verification documents and compliance records
  • Market preferences and trading patterns

Technical Information:

  • IP address, browser type, and device information
  • Platform usage data and interaction patterns
  • Cookies and similar tracking technologies
  • Location data (with your consent)

2. How We Use Your Information

Platform Operations:

  • Create and manage your account
  • Process trading transactions and payments
  • Verify identity and conduct compliance checks
  • Provide customer support and technical assistance

Communication:

  • Send transaction confirmations and updates
  • Provide market intelligence and platform news
  • Notify you of policy changes or security issues
  • Respond to inquiries and support requests

Legal and Compliance:

  • Comply with KYC and AML regulations
  • Prevent fraud and unauthorized access
  • Respond to legal requests and regulatory requirements
  • Enforce our Terms of Service

Platform Improvement:

  • Analyze usage patterns to improve services
  • Develop new features and functionality
  • Conduct research and market analysis
  • Personalize your platform experience

3. When We Share Your Information

We do not sell your personal information. We may share your information in the following circumstances:

With Other Users:

  • Basic business information for trading purposes
  • Verification status and trust scores
  • Transaction history (anonymized when possible)

With Service Providers:

  • Payment processors and financial institutions
  • Identity verification and compliance services
  • Cloud hosting and data storage providers
  • Customer support and communication tools

Legal Requirements:

  • Response to lawful requests from authorities
  • Compliance with court orders and legal processes
  • Protection of our rights and those of our users
  • Prevention of fraud or illegal activities

4. Data Security and Protection

Security Measures:

  • 256-bit SSL encryption for all data transmission
  • Multi-factor authentication for account access
  • Regular security audits and penetration testing
  • Secure data centers with physical access controls
  • Employee training on data protection practices

Data Retention:

  • Personal data retained only as long as necessary
  • Transaction records kept for regulatory compliance (7 years)
  • Account data deleted within 30 days of account closure
  • Anonymized data may be retained for research purposes

5. Your Privacy Rights

You have the following rights regarding your personal data:

Access and Portability:

  • Request access to your personal data
  • Receive a copy of your data in portable format
  • View data processing activities affecting you

Control and Correction:

  • Update or correct inaccurate information
  • Request deletion of personal data (subject to legal requirements)
  • Opt-out of non-essential communications
  • Restrict processing for specific purposes

Exercising Your Rights:

To exercise these rights, contact us at privacy@eagoldexchange.com. We will respond within 30 days and may require identity verification.

6. Cookies and Tracking Technologies

Types of Cookies:

  • Essential Cookies: Required for platform functionality
  • Performance Cookies: Help us improve the platform
  • Functional Cookies: Remember your preferences
  • Analytics Cookies: Understand how you use the platform

Managing Cookies:

You can control cookies through your browser settings. However, disabling essential cookies may affect platform functionality. We also use similar technologies like web beacons and local storage for platform operations.

7. International Data Transfers

As a platform serving international markets, your data may be transferred to and processed in countries other than your own. We ensure adequate protection through:

  • Standard contractual clauses with service providers
  • Adequacy decisions for certain jurisdictions
  • Your explicit consent where required
  • Necessary transfers for contract performance

8. Children's Privacy

Our platform is not intended for individuals under 18 years of age. We do not knowingly collect personal information from children. If we become aware that we have collected data from a child, we will take steps to delete it promptly.

9. Changes to This Privacy Policy

We may update this Privacy Policy from time to time. We will notify you of material changes through email or platform notifications. Continued use of the platform after changes become effective constitutes acceptance of the updated policy.

Contact Our Privacy Team

If you have questions about this Privacy Policy or our data practices:

  • Email: privacy@eagoldexchange.com
  • Address: East African Gold Exchange, Privacy Officer, Nairobi, Kenya
  • Phone: +254 (0) 700 123 456

For EU residents, you also have the right to lodge a complaint with your local data protection authority.