PurposeZyBi Tech Inc., hereafter referred to as The Company, handles transactional and customer data continuously. Safety precautions must be followed in order to preserve and protect data. Data breaches can take the form of hacks, ransomware attacks, phishing schemes, and so on.
Data Collection and Processing
- The company will only collect specific customer information for legitimate purposes. The scope of data collection will be adequate, relevant, and limited to what is necessary for processing.
- The company will take steps to verify the accuracy of submitted information.
The company will store customer data safely and securely, and take precautions against accidental or intentional data breaches.
- Transactional data will be stored for a minimum of 5 years after account closure. Exceptions include data used as evidence for court cases, or accounts suspended for Terms and Conditions violations.
- Customer data used in account opening and validation will be stored indefinitely.
- The company will process data lawfully, fairly, and securely, in a manner that is clearly explained and transparent to the customer.
- When necessary, the company will conduct periodic reviews to maintain the accuracy of customer information on file.
Use of Multi-factor Security FeatureMulti-factor authentication (MFA) is a layered approach to security that requires the user to present two or more pieces of identification evidence before a transaction can proceed. Compromising more than one layer brings a greater challenge to a would-be attacker, making the system more secure. The layers are normally:
- Something the customer knows (password)
- A device the customer has (phone)
- Hard to replicate biometric data (fingerprint)
- Use of One Time Password (OTP)
The JuanCash, JuanExchange and the JuanWorld platform relies on the first two layers for multi-factor authentication. When biometric data becomes standardized and ubiquitous on supported devices, we may adopt the third layer too.
Juan World Services Requiring MFA
- Account creation
- Mobile number based
- Transfer of VCs from JuanExchange Wallet to an external wallet