Privacy Policy

This Privacy Statement applies to KoinWorks, www.koinworks.com and operated by PT Lunaria Annua Teknologi. This privacy policy describes how KoinWorks collects and uses personal data that you have submitted to us.

Your privacy and the protection of your sensitive personal information are important to us. Because we collect and/or store certain types of information from and about you, it is necessary to explain our policy and the terms and conditions surrounding the capture and use of that information.>

Employee Conduct

KoinWorks expresses its absolute commitment to integrity, and our corporate values and ethical standards and the associated business conduct we expect from all our employees.

KoinWorks Code of Conduct includes very specific guidelines concerning the safeguarding of confidential information, which includes customer information. In general, these guidelines limit employee access to confidential information, and limit the use and disclosure of such information to specifically authorized processes and transactions. If it is determined that employees have violated the Code of Conduct, corrective action may be taken, including immediate dismissal.

Verification of Practices

Periodically, our operations and business practices are reviewed for compliance with corporate policies and procedures governing the confidentiality of information. These reviews may be conducted by our own internal staff, external accounting and auditing firms, and government regulators. Included in these self-assessments and examinations are reviews of the controls and safeguards related to consumer privacy.

WHAT DOES KOINWORKS DO WITH YOUR PERSONAL INFORMATION?

What?

We collect personal and financial information from you while you use the site, and most of the collection occur when you are registering and submitting your data. We also collect data from other social media platforms you allow us access to.

We also collect data from your time navigating the site. These include, but is not limited to, your computer, geographical information, IP address, referral source, length of visit, page views and clicks. These aggregated information are mainly used for the administration of the website to improve its usability and security.

Why?

We require all users to submit basic data to enable us to verify your identities as stipulated by the law, communicate with you, verify that you are at least of legal age and guard against potential fraud. We will only use personally identifiable information to provide services to our users, and will not share such data to third parties without the explicit consent of our users.

We request additional data from users which are optional, but must be filled in order to allow us to give additional services to the users. These include determining borrowers’ eligibility for loans through our credit scoring process, establishing users’ basic community building in our platform and implementing collection activities as needed.

IS MY DATA SECURE?

Access

KoinWorks takes the utmost care in our business practices and deploy the most effective technologies to ensure that the data you submit to us are secure. Only a limited number of our staff has access to users’ data, and most of the time they will only have access to certain part of the data as necessary to perform their tasks as part of our services for the users. Our staff are not allowed to transfer or bring out data from our servers or our locations.

Storage

We consult with leading figures in financial security and employ technical safeguards like encryption, two factor authentication, and continuous monitoring to ensure that your information is protected and that there are safeguards to protect our users interests.

Review

These measures will be reviewed and adjusted periodically based on ongoing risk assessments or a possible security breach, as no institution can guarantee an absolutely secure and safe system. We also recommend users to take certain steps to help protect their information.

Sharing

Users may elect to add other users to their contact list, or form and join groups with other users whom they identify with or are comfortable with. Doing such may require users to allow some of their information to be seen by the group and their contact list.

Notifications

We may send you notifications from time to time. These are required elements of your transactions on our platform and confirmation of the actions you have taken. This is to ensure that no one else is making changes to your account without your knowledge.

We will also send periodical updates on the summary of your account’s activities during a certain period. Occasionally we may also send communications on updates on our platform, and may include promotions or changes to our platform which affect our users.

Situational Cases

In cases of a legal process, court order, or judicial proceeding, we may share your relevant data with law enforcement or government agencies as required by law. We may also share borrowers’ loan and payment record with the Central Bank BI Check system, especially in the event of default.

Changes to Privacy Policy

As our Company and the Platform evolves to serve our users better, consequently we may occasionally make changes to this Privacy Policy as such needs dictate. In the event of substantial or material changes, we will notify you before the changes become effective.

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ATTENTION:

The Information Technology-based Peer to Peer Lending Service is a civil agreement between Lender and Borrower, so that all risks arising from the agreement are borne entirely by each party.
Every Lender is fully responsible for all credit risks of late or default payments. No national entity or authority is responsible for any such risks.
The Operator with the approval of the respective Users (Lenders and/or Borrowers) accesses, acquires, stores, administers and/or uses the Users’ personal data of Users ("Data Utilization") on or inside objects, electronic devices (including smartphones or phones cellular), hardwares, softwares, electronic documents, applications or electronic systems belonging to Users or controlled by the Users, by notifying the purpose, limitations and mechanisms of the Data Utilization to the Users concerned before obtaining such consent.
Lenders who do not have sufficient knowledge and experience on the lending business are advised not to use this service.
Borrowers should carefully consider the loan interest rate along with other costs in accordance with the ability to pay off the loan.
Every fraudulent activity is recorded digitally in cyberspace and may potentially be informed to the public through social media networks.
Every User should read and understand this information before making a decision to become a Lender or Borrower.

The Government, in this case the Financial Services Authority, shall not be liable for any breach or non-compliance by the User, either the Lender or the Borrower (either by User's intent or negligence) of the provisions of the laws and regulations or agreements or agreements between the Operator and the Lender and/or Borrower.
Every transaction and lending activity or the implementation of the agreements on lending activity between or involving the Operator, Lender and/or Borrower shall be made through escrow and virtual accounts as required under the Regulation of the Financial Services Authority Number 77 / POJK.01 / 2016 on The Information Technology-based Peer to Peer Lending Service and the violation or non-compliance towards those provisions constitute evidence of a violation of law by the Operator so that the Operator shall bear the indemnity suffered by each User as a direct result of the above breach of the law without prejudice to the right of the User suffering loss according to the Civil Law.

Employee Conduct

Verification of Practices