Key Takeaways for Brokers:
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As a Mortgage Broker using Frollo, it's essential to understand the robust privacy safeguards in place to protect your client's data. The Consumer Data Right (CDR) framework ensures strong privacy and security. Here's how Frollo adheres to these safeguards:
Strong Privacy Safeguards
The CDR privacy safeguards outline specific privacy rights and strict obligations for businesses collecting and handling data. Frollo complies fully with these regulations.
ACCC Accreditation
Frollo is accredited by the Australian Competition and Consumer Commission (ACCC) as an Accredited Data Recipient (ADR). This accreditation requires us to meet strict requirements in several key areas:
- Obtaining Consumer Consent: Frollo only collects data from another business (Accredited Data Holder - ADH) when we have received explicit Consumer Consent. Consumers can withdraw their Consent at any time.
- Data Collection, Usage, and Storage: Frollo collects and uses data solely to provide the requested product or service. We ensure transparency and clarity when collecting data. If Consent is withdrawn, we cease using the data and delete or de-identify it, as permitted by law, unless an exception applies.
- Information Security: Frollo adheres to strict information security requirements. This includes protecting data from misuse, interference, loss, unauthorised access, modification, or disclosure.
- Protecting Privacy: CDR data is transferred via a secure online system to protect your Consumers' privacy and information.
Consent Management
Frollo will only collect data from another business (ADH) where we have received express Consumer Consent to do so.
Consent can be withdrawn by the Consumer at any time.
Data Handling Practices
Frollo will only collect and use data to provide the product or service requested.
We will make it clear when we collect data.
If Consent is withdrawn, we will stop using the data and delete or, where permitted at law, de-identify any previously collected data, unless an exception applies.
Information Security Measures
Frollo meets strict information security requirements.
This includes ensuring data is protected from misuse, interference, and loss, as well as from unauthorised access, modification, or disclosure.
Secure Data Transfer
CDR data is transferred via a secure online system to protect privacy and information.
Additional Privacy Rights
There are numerous other privacy rights under the Consumer Data Right.
For example, as an ADR, Frollo is prohibited from sending data overseas, unless an exception applies.
For more information on CDR privacy rights, please refer to this Government fact sheet and Frollo's CDR Policy. We are dedicated to ensuring the security and privacy of your client's data.