5. To whom do we disclose personal information?

We collect, use, hold and disclose personal information so that we can:

  • establish your identity as required by the Anti-Money Laundering and Counter Terrorism Financing Act 2006 and, if you are providing real property security, relevant State or Territory real property legislation.
  • assess your eligibility for membership
  • process applications for products and services, including loans
  • design our products and services
  • manage our relationship with you, including in relation to registration of security interests in property under the Personal Property Securities Act 2009
  • manage our risks and help identify and investigate inappropriate or illegal activity, such as fraud
  • contact you
  • improve our products and services and your experience with us
  • comply with our legal obligations (including to assist law enforcement agencies or regulators where we are required to do so) and
  • inform you about products or services that we think may be of interest to you, including those of our business partners.

Under 16s and special needs

If you are under 16 or have special needs, we may share your information with your parent or legal guardian, any person appointed to manage your affairs or a Government agency providing trustee or guardian services to you.

Sending information overseas

Depending on our commercial arrangements, we may disclose personal information about you to business partners with operations overseas or who store personal information overseas (e.g. providers of Lenders’ Mortgage Insurance (“LMI”).

Electronic verification of identity

Section A:

We are required under the Anti-Money Laundering and Counter-Terrorism Financing Act to collect and verify information relating to your identity. Subject to your consent, we will disclose your name, address and date of birth in order to access identification information electronically held by credit reporting bodies, the government’s Documentation Verification Service (DVS)1 and other public records.

To access such information, we use a service provider registered under the DVS. The service provider, may, for verification purposes on our behalf:

  • request that a credit reporting body provide us with an assessment as to whether your personal information matches that held in their credit information files. (In preparing this assessment, the credit reporting body may use the personal information of other individuals);
  • disclose your personal information to the DVS;
  • search other public records.

Section B:

We are also required under the State based real property laws to collect personal information and verify the identity of mortgagors for mortgages (VOI). These laws are: the Electronic Conveyancing (Adoption of National Law) Act 2012 (NSW), Electronic Conveyancing (Adoption of National Law) Act 2013 (Victoria), Electronic Conveyancing National Law (Queensland) Act 2013 (Queensland), Electronic Conveyancing Act 2014 (Western Australia), Electronic Conveyancing National Law (South Australia) Act 2013 (South Australia), Electronic Conveyancing (Adoption of National Law) Act 2013 (Tasmania), Electronic Conveyancing (National Uniform Legislation) Act 2013 (Northern Territory) and Electronic Conveyancing National Law (ACT) Act 2020 (Australian Capital Territory).

In this sub-section, “you” or “your” mean the proposed mortgagor(s). Subject to your consent, our identity verification is performed by a service provider, OCR Labs Pty Ltd (ACN 603 823 276) trading as IDVerse. To verify your identity, information about you, including data from your identity document(s), your biometric data and information about your device and location will be provided to IDVerse. For further details about how IDVerse may collect, hold, use or disclose your personal and sensitive information please refer to IDVerse’s privacy policy.

If you do not consent to these processes, alternative forms of verifying your identity are available on request.

If we are unable to verify your identity using the above methods, you will be provided with a notice to that effect. You may then be asked to provide further evidence of your identity. If we are unable to verify your identity to our satisfaction, we will not be able to admit you to membership or provide you with the services or products you seek.

1. The DVS is a national online system that allows personal identifying information about individuals to be compared against government records. Your information will be matched against that held by the relevant government department or agency. You can find out more about the DVS on their website.

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