Privacy Notice

1. Introduction

Rackan Technologies (“Rackan,” “we,” “us,” “our,” “ours”) is committed to protecting the privacy and security of personal information entrusted to us.

This Privacy Notice explains what information we collect about you and how we use, disclose, store, share and safeguard it. It applies to you if you have used our products and services, whether directly or through third parties, and if you visit www.rackantech.com (the “Website”).

2. Purpose

Rackan respects your privacy and is committed to maintaining the confidentiality and security of the information of its existing, prospective and former customers and beneficiaries. This Notice sets out how we collect, use, store and share the personal information you provide on Rackan websites, and the rights available to you.

To the extent required by applicable law, whenever Rackan collects personal information we will:

• provide you with notice of our data practices;
• collect it only for specified and legitimate purposes, keeping what we collect relevant, adequate and limited to those purposes;
• process it in a manner consistent with the purpose of collection, or with a purpose for which your consent was taken;
• take appropriate measures to keep it accurate, complete and, where necessary, up to date; and
• take reasonable steps, by contract or otherwise, to protect personal information disclosed to third parties.

3. How we collect your personal information

We collect information about you mainly through our business partners and service providers, Rackan's Website, and third parties.

We do not collect personal information from social media such as Facebook or X. Please do not disclose personal information on social media.

“Personal information” means any information relating to an identified or identifiable individual, directly or indirectly — such as a name, address, telephone number or email address. “Process” or “processing” means any operation performed on personal information, whether or not by automatic means: collection, recording, organisation, structuring, storage, adaptation, retrieval, consultation, use, disclosure, alignment, restriction, erasure or destruction.

4. What personal information we collect

Rackan collects the following information in order to provide services through our business partners:

• Full name
• Address
• Nationality
• Telephone, including mobile
• Relationship between sender and recipient
• Email
• Age
• Date of birth
• Gender
• Proof of address
• Origin of the financial resources
• Financial background
• Identification document
• Bank statements
• Transaction amounts
• Bank account details
• Marketing and contact preferences
• Purpose of the transactions
• IP address and website usage data

Rackan has obligations in respect of identity verification, fraud prevention, KYC checks and similar security purposes. To meet them, some of the information above may be collected from, or verified against, third-party sources such as government agencies and global regulatory databases.

5. Why we use your information

• Authorising and processing transactions, including effecting and administering money transfers and ensuring proper payment to the designated recipient.
• Monitoring and improving our services, including the Website and its content.
• Protecting against and preventing fraud and other legal or information-security risks.
• Responding to queries and complaints about our services and products.
• Communicating with you about products and services offered by Rackan, financial institutions, partners, affiliates and third parties.
• Where you have given explicit consent — marketing communications and promotions.
• Processing your job application.
• Serving a legal obligation.
• Meeting legal, regulatory, self-regulatory, risk-management, fraud-prevention and security requirements. This may include verifying the identity of the sender and recipient of funds and checking identities against money laundering, terrorist financing or similar watch lists.
• Verifying identity — senders and recipients may be required to produce valid identification, or to consent to verification by other means, before funds are released.
• Maintaining business and transaction records, and administering our business.
• Meeting insurance, audit and processing requirements.
• Otherwise as permitted or required by law.

Change of purpose

Rackan will only use your personal information for the purposes for which it was collected, unless it must be used for another reason compatible with the original purpose. Rackan may process your personal information without your knowledge or consent where this is required or permitted by law.

6. Legal basis for processing

We will process your information only if, and to the extent that, at least one of the following applies.

Compliance with legal obligations

Where processing is necessary to meet a legal obligation — anti-money-laundering screening and reporting requirements, or compliance with a court order or judicial proceedings.

Legitimate interests

Where processing is necessary for our legitimate business interests and those interests are not overridden by your privacy rights — communicating about requested transactions, internal record-keeping and fraud prevention.

Contract

Where processing is required to comply with our contractual obligations to you.

Consent

For certain purposes such as marketing, only with your consent and in line with applicable privacy and data protection regulations.

7. Why we share your information

To carry out the processing described in this Notice, Rackan may disclose your personal information to:

• Data processors — third-party service providers, including subsidiaries and affiliates performing services on our behalf, such as information technology, data hosting, marketing, customer care and fraud prevention. We take steps to ensure information processed by them is protected and not used or disclosed for any purpose other than as directed by us.
• Third-party data controllers and joint controllers — parties acting independently of Rackan as required in connection with the services provided to you, for example intermediary banks or other financial institutions involved in a transaction.
• Successors — if Rackan is purchased by or sold to a third party, personal information held by Rackan will be transferred to the successor entity.
• Relevant authorities — as necessary to meet legal and regulatory requirements, including disclosure to government authorities in compliance with suspicious-activity reporting requirements under anti-terrorism, anti-money-laundering, proliferation-financing and similar laws.

8. Cross-border transfers

In connection with providing services to our customers, we may transfer your personal information to countries outside your country of residence. Those countries may have data protection laws that differ from, and may be less extensive than, the laws in your country. When transferring personal information outside your country of residence, Rackan seeks to ensure that security measures and appropriate safeguards are in place to protect it.

Minors

We do not collect information from children under 18 years of age.

9. How we protect and store your information

Rackan takes all reasonable steps to ensure that information collected through our services and business partners is treated securely and in accordance with this Notice, following strict data protection standards. We limit access to your information to employees who need to know it and who are bound by confidentiality obligations. We store information in a secured infrastructure and adopt appropriate standards against accidental loss or destruction. We cannot, however, guarantee complete security of information transmitted over the internet to our Website, application and services. We continually assess our organisational and technical security measures.

In the event of an information security breach, Rackan will be prepared to demonstrate and report, as required by the relevant regulatory agency, that it has taken all necessary measures and implemented security controls in accordance with its documented information security policies.

10. How long we retain your information

We retain personal information as required or permitted by law. In all cases, Rackan retains it only for as long as necessary for the purposes described in this Notice and in line with Rackan's data retention obligations.

Where customer due diligence, AML/CFT or transaction records are involved, Rackan may retain such information for a minimum of five years, or longer where applicable law requires it.

11. Your information is your right

You have rights over your personal information. In summary, these are:

Right to know

To receive certain information about how your personal information is processed.

Right to access

To access and receive a copy of your personal information.

Right to rectify

To have inaccuracies in your personal information corrected.

Right to portability

To ask for a copy of the personal information you provided, in a machine-readable format, or to have it sent to a third party you appoint.

Right to erase

To request deletion of your personal information in certain circumstances.

You are also entitled to lodge a complaint with a regulatory authority in the jurisdiction where you live or work, or where you consider Rackan is processing your personal information unlawfully. We would appreciate the chance to deal with your concerns before you approach the regulator, so please contact us in the first instance. We will respond within the timelines defined by the regulator in your region.

12. Changes to this Privacy Notice

We review and update this Notice from time to time. We encourage you to review this page periodically to stay informed.

13. Contact us

If you wish to exercise any of your rights, want to know more about how we use or protect your information, or have any query about this Notice, please contact us at info@rackantech.com or through our contact form.