Is my data safe with Syfe?

• How do I close my account with Syfe?

  Please kindly submit your account closure request on the Syfe App under Account Information > Personal Details > Close Account and follow the steps accordingly.

  Kindly note that accounts with positions or cash balances cannot be closed. Before closing your account: 

  1. Ensure that your portfolios are fully redeemed.
  2. Ensure that all cash balances have been fully withdrawn, and that you are not expecting to receive any dividends, interest, or other sums in your account. 
  3. Ensure that any instructions for recurring deposits of funds into your Syfe account have been cancelled.
  4. Ensure that all charges, fees, costs, and/or expenses payable by you to us and/or our partners have been paid. 

  If any of the above conditions are not fulfilled, we reserve the right not to proceed with the closure of your account. 

  You acknowledge that your funds may be lost, or we may charge an administrative fee, to process any refund to you (such as may arise from dividends received, standing instructions for recurring deposits, etc.) after your account has been closed. 

  After 90 days from the confirmation of your instructions to close your account, and provided that the above conditions are fulfilled and you have not withdrawn your account closure request, your account will be closed with the following consequences: 

  1. You will no longer be able to access your Syfe account, or to use our services.
  2. The contractual relationship between you and Syfe pursuant to the client agreement is terminated.  
  3. You will not be able to retrieve any account information such as account statements after closure. 
  4. Due to Syfe’s various regulatory compliance and contractual obligations (such as those in relation to prevention of money laundering and countering of terrorism financing), information relating to your account and activities associated with it (“Account Information”) will remain retained by Syfe. However, your account closure will be treated by us as a withdrawal by you of consent to any further collection, use, or disclosure of your personal data, subject to any applicable law. 
  5. You will no longer receive any communications from Syfe. However, Syfe reserves the right to contact you where necessary (such as to return any cash balances, dividends, etc. belonging to you). 

  Any withdrawal of your account closure request has to be communicated to us within 90 days from the confirmation of your instructions to proceed with the closure of your account. After 90 days, your instructions will be irrevocable and irreversible. 

  If you wish to use Syfe’s services again after your account is closed, you will need to go through the account opening process afresh. 

   

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• I have closed my Syfe account. What happens to my data?

  When you close your Syfe account, we note the withdrawal of your consent to collect, use or disclose your personal data.

  Please be assured that Syfe complies with The Personal Data (Privacy) Ordinance and will cease to retain personal data when retention is no longer necessary for legal or business purposes.

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• How secure is my information from external threats?

  Your personal data is encrypted and stored in a secure data centre hosted by Amazon Web Services (AWS) – the service provider of choice for leading global banks. Syfe further implements Two-factor Authentication to protect against unauthorized account logins or password hackings.

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• What are some IT best practices I should adopt when making online transactions?

  1. Always use strong passwords - with at least 1 letter (uppercase and lowercase), 1 number, 1 symbol and at least 8 characters in length
  2. Passwords should not be guessable information such as user-id, personal telephone number, birthday or other personal information
  3. Change your passwords regularly
  4. Never share your passwords with anyone, not even us! We will never ask you for your login credentials over any form of communication (email/phone/text). So if somebody asks, it’s not us, don’t give it to them!
  5. Avoid using the browser option for storing your username and password
  6. When visiting the Syfe website, check the Syfe url, it should always end with “syfe.com”
  7. When visiting the Syfe website, check that the address bar changes from ‘http://’ to ‘https://’ and a security icon that looks like a lock or key appears
  8. Never give anyone your OTP, it is only for you
  9. Ensure that all operating systems and softwares like your firewall and antivirus are up to date. Security updates are rolled out periodically so it’s a good way to stay protected
  10. Regularly scan your systems for malicious files that might have been downloaded
  11. Backup your important files and data regularly
  12. Avoid using public wifi without a VPN
  13. Be aware of phishing scams
  14. If you see something that’s too good to be true, it probably is. Always verify your source of information
  15. Remove file and printer sharing on internet connected computers
  16. Make sure you log out from your Syfe dashboard after use especially on a shared computer
  17. Do not access your Syfe dashboard on a public devices (e.g. Cyber Cafe, University Computers)
  18. Consider the use of encryption technology to protect highly sensitive or confidential information
  19. Do not install software or run programs of unknown origin
  20. Delete junk or chain emails
  21. Never open any suspicious email attachments. i.e. attachments ending with ‘.exe’
  22. Do not disclose personal, financial or credit card information to little-known or suspect websites
  23. Do not use a computer or a device which cannot be trusted

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