GDPR: Greater protection of your personal and banking data
To reinforce the protection of your personal data, a new European regulation (the General Data Protection Regulation) came into effect on 25 May 2018 and will affect all business sectors, including banking.
THE AIM OF THE GDPR
—Guarantee the transparency of your personal data held by companies
—Give you control over your personal data
—Regulate the duration for which a company can hold your data and the purposes for which it can be processed
—Guarantee that your personal data is updated, and destroyed when it is no longer needed
— Guarantee that no data is passed on to third parties without your consent
—Ensure enhanced confidentiality of personal data and prevent its disclosure
THE IMPACT ON YOUR RELATIONSHIP WITH THE BANK
Protecting your personal data has been at the heart of our private banking activity since our foundation in 1920. We must comply with banking and professional secrecy, and as such are bound by strict rules regarding the personal and confidential information you entrust to us.
With the GDPR, we have strengthened data protection from both an operational and administrative aspect. All employees of the Bank have been specially trained on compliance with the current legal obligations, and the Bank is committed to implementing a privacy policy that meets even the most demanding regulatory requirements.
HOW BANQUE DE LUXEMBOURG PROCESSES YOUR DATA
Your personal and banking data is recorded in our central IT system with the highest degree of security. We process your data exclusively for the purposes of providing advice and/or financial and wealth management services, in accordance with the Bank’s General Terms and Conditions and the data protection policy.
Banque de Luxembourg does not disclose any confidential information to third parties except when required by law (e.g. the automatic exchange of information). It does not pass on any information to third parties or partners of the Bank.
WHERE TO FIND OUR DATA PROTECTION POLICY
We have updated our privacy policy and adapted our General Terms and Conditions, to include a specific addendum on data protection.