Quantum Metal Malaysia

Privacy Policy

Privacy Policy

UPDATED AT 24th October 2024

Quantum Metal Sdn Bhd (“QMSB”) is committed to protecting the privacy and confidentiality of all our customer’s personal data. As part of our ongoing commitment to safeguarding personal information, we adhere strictly to the Personal Data Protection Act (PDPA) and other statutory requirements. This Privacy Policy outlines the types of personal data we collect, how we use it, and with whom it may be shared, including specific provisions related to face data collection.

1. Types of Personal Data Collected

QMSB collects personal data that is essential for delivering services and fulfilling legal and regulatory obligations. This includes:

  • Identification Data: Full name, identification numbers (e.g., NRIC, passport), and date of birth.
  • Contact Information: Address, phone numbers, and email addresses.
  • Financial Information: Bank account details and transaction history.
  • Biometric Data: Face data, including selfie images and video recordings, used for identity verification during the Know-Your-Customer (KYC) process. This includes biometric matches between the selfie image or video and the customer’s identity documents, as well as liveness checks to ensure the authenticity of the image.

2. Purpose of Collecting Personal Data

We collect personal data to:

  • Product and Service Provision: To deliver products and services as requested by the customer.
  • Identity Verification: To fulfill legal obligations such as KYC and anti-money laundering (AML) regulations. Face data is specifically collected to verify the customer’s identity and ensure compliance with these requirements.
  • Transaction Processing: To process payments, manage orders, and support transactions.
  • Regulatory Compliance: To ensure compliance with statutory and legal obligations.
  • Customer Support: To provide assistance and respond to inquiries.

3. How Personal Data Is Used

Personal data is used strictly for the purposes outlined above, including processing transactions, enhancing service delivery, and fulfilling regulatory obligations. Biometric data, such as face data, is used solely for identity verification as part of the KYC process. QMSB employs stringent security measures to ensure the confidentiality and integrity of this data.

4. Sharing of Personal Data

QMSB shares personal data only under the following situations:

  • Within the Quantum Metal Group of Companies and Lembaga Quantum Bullion (QBEB): To ensure seamless service provision.
  • Regulatory Authorities and Law Enforcement: When required by law or regulation.
  • Service Providers: Third-party providers under strict confidentiality agreements that assist in delivering services.
  • Strategic Partners: For introducing relevant products or services, provided the customer has not opted out of such communications.

QMSB does not sell personal data to unauthorized third parties for marketing or advertising purposes.

5. Retention of Personal Data

Personal data, including face data collected during the KYC process, is retained for as long as necessary to fulfill the purposes outlined or as required by law. Face data is stored for up to 7 years after account closure in compliance with regulatory requirements, after which it will be securely deleted.

6. Sources of Personal Data Collection

  • Direct Customer Input: Data provided by the customer or authorized sources.
  • Public and Legal Sources: Data from publicly available or legally mandated sources.
  • Biometric and Digital Interactions: Data collected through interactions with our digital platforms and biometric identification.

7. Use of Face Data

  • Why Do We Collect Your Face Data?
    QMSB collects and uses face data for identity verification and liveness detection as part of our Know-Your-Customer (KYC) obligations. This is done in accordance with legal and regulatory requirements.
  • What Types of Face Data Do We Collect?
    We collect your selfie image and video recordings during the KYC process. These are used to perform biometric matching and ensure the authenticity of the image through liveness detection.
  • How Long Do We Store Your Face Data?
    Your face data is stored for up to 7 years after your account is closed, in compliance with local regulatory requirements. After this period, the data is securely deleted.
  • Do We Share Your Face Data with Third Parties?
    No, your face data is never shared with third parties except when legally required by law enforcement or regulatory bodies and/or for the purposes of compliance with regulatory and KYC requirements. QMSB does not sell or share face data with any marketing agencies and/or for purposes of marking activities.
  • Will Third Parties Store Your Face Data?
    Only law enforcement or regulatory authorities, when required, may store your face data. We ensure that they adhere to strict data security and privacy practices.

8. How We Safeguard Personal Data

  • QMSB applies stringent security protocols, both physical and digital, to protect personal data, including face data. These protocols are regularly reviewed to ensure their effectiveness. All QMSB employees and authorized third parties must adhere to these standards. Although we take all necessary precautions, it is important to note that no method of transmission or storage is 100% secure.

9. Customer Rights

  • Our customers have the following rights concerning personal data:
    • Access: The customer may request access to personal data held by QMSB. Please note that a fee may apply, depending on the nature of the data requested.
    • Correction: The customer may request corrections to inaccurate or outdated personal data.
    • Withdrawal of Consent: The customer may withdraw consent for the processing of personal data. However, this may affect the products or services that QMSB can provide and is subject to legal and contractual limitations.

    For purposes of this section, our customers may contact our Membership Care at +603-8605-3611 or email us at care@qbeb.org.

10. Updates to This Privacy Policy

  • QMSB may update this Privacy Policy from time to time to reflect changes in regulations or internal practices, including those related to the collection and use of face data. The latest version will be available on our website and mobile applications.