Fraction’s Privacy Policy

Updated on: February 3, 2022

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Fraction (Thailand) Co., Ltd. (“Fraction” or “Company”), a juristic person, is an authorized operator of the ICO Portal and has been granted the Securities and Exchange Commission of Thailand (“SEC”)’s approval since September 7, 2021.

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This Privacy Policy will apply to any uses on the website www.fraction.co by you, including the website, software, applications, and/or any related services owned or provided by Fraction (collectively referred to as “Services”). 

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This Privacy Policy explains how Fraction uses the information collected from you during the usage of Fraction’s Services.

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1. What Information does Fraction collect?

The Fraction will collect the following information:
 

a. Your Personal Information, including but not limited to:  

- Personal details i.e., name, surname, age, sex, date of birth, marital status, nationality;

- Contact information i.e., address, phone number, email.

- Please be advised that Fraction may accept the following proof of address: A copy of the utility or phone bill or bank statement. 

- Personal identification data i.e., personal photo, national identification number, passport, driver’s license. ---- Please be advised that Fraction may request a personal photo from you, holding your national identification card to facilitate the verification process, including a copy of your (front-back) identification card. 

- Financial information such as the information from your bank account (including account number and payment card), credit/debit card, and capital source.

- Transaction information such as payment history and other information related to the product and/or service you purchase from Fraction.
- Technical information such as IP address, browsing history and operation system, and geographical location.
- User profile such as username and password, your favorites, and information about the use of Fraction’s Services.
- Investigative information such as the information related to a financial route investigation (i.e., KYC information), anti-money laundering, and counter-terrorist financing.

- Marketing information such as a service you are interested in, your opinion about Fraction’s Services.

- Employment information.

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b. Sensitive personal information such as religion, ethnicity, race, criminal history, blood group, biometrics (i.e., fingerprint, voice recognition, retina, etc.). 
c. Information from your identification documents or the information you provide us during each verification and/or other information necessary for the verification.
d. Copy of Your Identification Documents. Fraction may request a copy of your identification such as driver’s license, certificate of birth and passport.
e. Log Data.
Upon your access to and usage of Fraction’s Services, Fraction will record certain information related to your access and usage for statistical purposes, including but not limited to IP address, your browser, date and time of your visit to any part of the Services that you have accessed and your activities in Fraction’s Services.
f. Other information which is considered personal information pursuant to the Personal Data Protection Act, B.E.2562 (2019).

2. How does Fraction collect your information?

The Fraction may receive your personal information from the following sources:

a. Questionnaire/Form/Application/Test.
The Fraction will collect personal information from your questionnaire /form/ application/test when you: 
 

- use Fraction’s Services such as new user registration, identification services via T2P Co., Ltd. and Fort Smart Services Public Company Limited and/or enter into any agreement to use the Services on the website, application and/or related Fraction’s Services;
- conduct a test such as a suitability test, knowledge assessment, etc.;
- give your suggestion or contact Fraction through chat popup, instant messaging, or contact form on the website.

b. Fraction’s Server.
The Fraction will collect personal information when you use or view Fraction’s website via any browser.
c. Information from Third Party or Public Sources. The Fraction may collect your personal information from a third party to which your consent has been given for the disclosure of such information to Fraction, or from any public sources where your personal information has been available. 

3. Purpose of Storage, Collection, Process, or Disclosure of Personal Information.
 

Fraction is required to collect your information for the following purposes:
 

a. Fraction’s Legal Compliance Obligation. Since Fraction is regulated and operated under applicable laws and regulations, Fraction is required to collect, use or disclose your personal information pursuant to the purposes permitted by the laws and regulations issued by the government and/or regulators, including but not limited to the following purposes:
 

1. To comply with the Personal Data Protection Act and its amendments;
2. To comply with any relevant laws i.e., financial institution laws, securities and exchange laws, anti-money laundering and counter-terrorist financing laws, anti-financing of the proliferation of weapons of mass destruction laws, and other relevant laws to which Fraction is subject both in Thailand and other jurisdictions, including the verification of personal identity, profile check, credit bureau check, Know-Your-Customer procedures, customer due diligence and other assessments (including any search against a public database operated by a regulator and/or on a designated person) and any procedures to ensure compliance with any applicable laws; and/or 
2. To comply with any regulations and/or orders issued by any authorities (i.e., an order issued by a court, government agency, regulator having jurisdiction over Fraction or competent officer).
 

b. Existing Agreements between You and Fraction.
To comply with the contractual obligations under any agreement to which you are a party, or your request before entering into an agreement, or any Terms of Services to which you are subject, including but not limited to the following purposes:
 

1. To process your request before entering into an agreement with Fraction, approve and provide the Services to you, provide advice about the Services, and carry out any other operations which, failing to fulfill them, will affect Fraction’s operations or Services or result in the unfair and interrupted provision of the Services;     
2. To verify the identity before any transaction;
3. To process your orders (i.e., for deposit or withdrawal of funds from your e-wallet) or to process your request about the Offering of Digital Tokens or answer your inquiry.);
4. To provide Services through the website, mobile applications, and other online platforms;
5. To track, record, or notify your transaction;
6. To prepare any report (i.e., transaction report as requested by you or Fraction’s internal report); and/or
7. To demand any payment due and payable to Fraction (i.e., outstanding payments and fees).

c. Fractions’ Legitimate Interests.
Fraction will rely on legitimate interests as a legal basis taking into account the interests of Fraction or other persons and the rights contained in your personal information, which is collected, used, or disclosed by Fraction only for the following purposes:
 

1. Fraction’s business operation (i.e., compliance, risk management, surveillance, prevention and the investigation of corruption, anti-money laundering, terrorism, misconduct, or other crimes, including but not limited to suitability test on any person associated with Fraction’s clients);
2. Management of the relationship between Fraction and you (i.e., customer care, satisfaction assessment, complaint administration);
3. Development and improvement of Fraction’s Services and operation system to enhance Fraction’s level of service; use of personal information to develop a model to serve your customized needs, including research and analysis of the information, provision of services and benefits suitable for you taking into account your personal information rights.

d. Your consent. In certain circumstances, Fraction may require your consent in the collection, usage, or disclosure of your personal information for your best interest and/or the customization of Services to suit your needs, including but not limited to the following purposes:
 

1. Any necessity to collect and use your sensitive personal data (such as face recognition) or a photo of your identification card (which contains your sensitive personal data i.e., your religion and/or blood group) for the purpose of identity verification before completing any transaction;
2. Collection and usage of your personal data and any other information about you for research and analysis to provide Services that truly serve your needs;
3. Sending or transferring your personal data to any foreign country with insufficient data protection measures (unless otherwise permitted by the Personal Data Protection Act to do so without prior consent);
4. In case you are a minor, incompetent, or quasi-incompetent to which consent is required from your parents, guardians, or curator (as the case may be) (unless otherwise permitted by the Personal Data Protection Act to do so without prior consent);            
5. To disclose your personal data or any of your data to Fraction’s trusted business partners for the purpose of service provision, such as service improvement, customization of services or marketing plans to suit your interest, etc. 

If it is necessary to collect the personal information from you for the purpose of legal compliance by Fraction or the conclusion of any agreement with you, Fraction may not provide (or continue to provide) Fraction’s Services, whether partial or whole, due to your failure to provide such personal information to Fraction upon Fraction’s request.
 

4. How does Fraction disclose your personal information?
In case Fraction is required to disclose your personal information, Fraction will process your personal data as follows:

a. Disclosure to a Third Party. Your information will be delivered to a third party when:

- your consent has been obtained;
- it is necessary for Fraction to deliver your personal information to a third party to process your request i.e., the completion of any transaction pursuant to any agreement between you and Fraction or its trading partners; 
- Fraction reasonably believes that such delivery is necessary for the purpose of investigation, prevention or dealing with illegal activities, prevention of fraudulent trading, protecting or using Fraction’s rights in accordance with the law, or claim prevention;
- Fraction engages a service provider to help Fraction analyze, verify, audit, research, report, or engage in any other activities related to the KYC procedures carried out by Fraction or for investment management purposes;
- Fraction is required to comply with the law or order issued by a competent officer. Fraction will ensure that such a third party has sufficient personal data protection measures in place. 
 

b. International Transfer of Personal Information. Fraction may transfer your personal information to a recipient in a foreign country if it is necessary. However, if the recipient country has insufficient personal data protection measures in comparison to those implemented in Thailand, Fraction will implement necessary measures to protect the transmitted/transferred personal information. Fraction may enter into a written agreement with the recipient of personal data pursuant to the Personal Data Protection Act, B.E. 2562. 
 

5. How does Fraction store your personal information?
Fraction will use reasonable measures (as specified below) to keep your personal information confidential and secure. However, such protection will not extend to any information you publicly and voluntarily disclose i.e., your information as found on any third-party social media. Fraction stores your personal information in the following manners:
 

- Persons authorized to access your personal information. Your personal information will be processed by Fraction’s authorized personnel or agents on a need-to-know basis based on the specific purpose for the storage of your personal information (e.g., only risk management and compliance officer taking care of a group of clients may access a record of your personal information.).
- Measures implemented in the working environment. Fraction stores your personal information in the working environment using reasonable measures to prevent unauthorized access to the information. Fraction strictly complies with any reasonable standards to protect personal information. However, any data transmission via the Internet is not considered completely secure and despite the best effort by Fraction to protect your personal information, Fraction cannot guarantee any security of such data during such transmission.
- Measures expected by Fraction to be used by you. You also have an important role in the secure storage of your personal data. When signing in to Fraction’s systems, please use a hard-to-guess password and do not disclose your password information to any person. You are responsible for keeping your password in strict confidence and responsibility for the use of your own account. If you share a computer with other people or use a public computer, do not select the Remember usernames/passwords and ensure that you have always signed out of the system after use. You should use the Data Privacy Settings & Control as provided by Fraction on the website/Fraction’s application.

6. How long does Fraction store your data?
The Fraction will use every reasonable step to ensure that Fraction will process your personal information on an as-needed basis for the purpose of personal data storage specified in the Privacy Policy for the period specified as follows:

1. Fraction will maintain records of your personal data in a personally-identifiable format as long as our current relationship continues. Upon termination of our relationship (e.g., after you terminate your existing account registered with Fraction, or upon the use of Fraction’s website, or Fraction denies your application for Fraction’s Services or you cancel Fraction’s Services), Fraction will store your personal data for a reasonable period on an as-needed basis for each specific category and purpose of personal data specified in the Personal Data Protection Act.      
2. Fraction will store your personal data for a period equal to any relevant statutory limitation or any other period as specified by any relevant laws i.e., financial institution laws, securities and exchange laws, anti-money laundering and counter-terrorist financing laws, anti-financing of the proliferation of weapons of mass destruction laws, accounting laws, tax laws, labor laws and any other relevant laws applicable to Fraction both in Thailand and overseas.
3. In the case of any relevant legal claim, Fraction may continue to process your personal data as long as it is necessary and relevant to such legal claim. During the period specified in 2. above, Fraction will restrict the processing of your personal data to the storage and/or keeping such personal data secure unless otherwise such personal data is required to be considered in connection with any requirements or obligations specified by the laws. Upon termination of the period specified in (1) (2) and (3) as the case may be, Fraction will delete or destroy the personal data or anonymize such personal data.
 

7. What are your data protection rights?
Your data protection rights are as follows:
 

a. Right of access – you have the right to access and receive a copy of your personal data held by Fraction unless otherwise, Fraction has the right to refuse your request pursuant to the law or court order or your request is likely to affect the rights and freedom of other people.
b. Right to rectification – you have the right to ask Fraction to rectify any inaccurate or incomplete information provided, however, you agree to provide correct and complete information to Fraction and that Fraction may use such information until your notice of any change in writing. Fraction will not be liable for any loss arising from any incorrect information you receive. 
c. Right to erasure – you have the right to ask Fraction to erase, destroy or anonymize your personal information unless otherwise, Fraction has a legal basis to refuse your request pursuant to the law.
d. Right to restriction of processing – you have the right to ask Fraction to restrict the processing of your personal information in certain circumstances (i.e., Fraction is considering your request for the erasure of, or objection to the collection, use, disclosure, or processing of, your personal information, or you request Fraction to restrict the processing of your personal information in lieu of a deletion or destruction of such information that is no longer required since you need Fraction to store your personal information for the establishment, compliance or exercise, or defense of legal claims).
e. Right to object to the collection, use, disclosure, or processing of your personal information – you have the right to object to any collection, use, disclosure, or processing of your personal information where such processing is based on the legitimate interest basis or is carried out for the purpose of direct marketing, scientific, historical or statistic research unless otherwise, Fraction has a legal basis to refuse your request pursuant to the law (e.g., Fraction can prove that the collection, use or disclosure of the personal information is carried out on a compelling legitimate ground or for the establishment, compliance or exercise, or defense of legal claims). 
f. Right to data portability – you have the right to get your personal data in the case where Fraction can arrange such personal data in a way that is readable or commonly used by means of automatic tools or equipment and can be used or disclosed by automated means. You also have the right to ask Fraction to send or transfer your personal data to a third party or get the personal data sent or transferred by Fraction to a third party unless otherwise, it is not technically feasible Fraction has a legal basis to refuse your request pursuant to the law.
g. Right to withdraw consent – you have the right to withdraw your consent at any time in a manner specified by Fraction unless otherwise, it is impossible to do so when taking its nature into account. However, the withdrawal of such consent will not affect the collection, use, disclosure, or processing of your personal data previously given under your consent before such withdrawal.
h. Right to lodge a complaint – you have the right to lodge a complaint to the Personal Data Protection Committee or the Office of the Personal Data Protection Committee if Fraction fails to comply with the Personal Data Protection Act. If you file a request with Fraction, Fraction will contact you within 30 (thirty) days from the date of filing. If you want to exercise the above rights, please contact Fraction via email: support@fraction.co or the website support.fraction.co. Please be noted that the exercise of the above rights may be restricted under any applicable laws and Fraction may refuse, or not able to satisfy, your request due to some circumstances e.g., compliance with the law or the order of a competent officer, violation of other people’s rights and/or freedoms likely to be caused by your request. If Fraction refuses your request, Fraction will notify you of such refusal.

8. Marketing
The Fraction may need to send information about Fraction’s products and services that you might be interested in and those of Fraction’s trading partners. If you agree to receive Fraction’s marketing information, you may cancel it later at any time. You may ask Fraction to stop reaching you for its marketing purpose.

9. Cookies
Cookies are text files on your computer that gather records about users’ activity and visitor behavior. When you visit Fraction’s website, Fraction may collect the information from you automatically through cookies or any other similar technologies. For more information, please visit allaboutcookies.org. How does Fraction use cookies? The Fraction uses cookies in several ways to improve your browsing experience on Fraction’s website, including:

- To better understand user behaviors to increase usability, speed, and performance of the website;  
- To understand use patterns and website use history, information, or service that interests you for analysis to improve the quality of the Services, display relevant advertisements or activities that interest you to increase your satisfaction;   
- To display advertisements on Fraction’s website or manage Fraction’s advertisements on other websites. Fraction’s other websites may use cookie-like technology to gather your activity information on this website and other websites to display the advertisements based on the activity that you view.  

Types of Cookies Used by Fraction

            There are several types of cookies, but Fraction’s website uses the following cookies:

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