1. Information We Collect
We collect the following information to provide our escrow services:
- Identity Information: Name, email, phone number, PAN, Aadhaar (for KYC)
- Financial Information: Bank details, UPI IDs, Razorpay payout info
- Project Data: Contracts, milestones, messages, dispute records
- Technical Data: IP address, device info, cookies, usage analytics
2. How We Use Your Information
- Verify identity and prevent fraud (PMLA compliance)
- Process escrow payments and payouts
- Facilitate dispute resolution and mediation
- Send transactional notifications (not marketing)
- Improve platform security and user experience
3. KYC and PMLA Compliance
Under the Prevention of Money Laundering Act (PMLA), 2002, we are required to collect and verify identity documents. This includes PAN, Aadhaar, and business registration documents for corporate clients. We retain KYC records for 5 years after account closure as required by law.
4. Data Sharing and Disclosure
We share data only as necessary to provide our services:
- Razorpay: Payment processing (PCI-DSS compliant)
- Supabase: Secure database hosting (SOC 2 certified)
- Government Authorities: When required by law or court order
- Other Users: Only project-related info (not KYC documents)
We never sell your data to third parties.
5. Data Security
We implement industry-standard security measures:
- AES-256 encryption for data at rest
- TLS 1.3 for data in transit
- Regular security audits and penetration testing
- Access controls and audit logs for all staff
6. Your Rights (GDPR / PDPB)
Under the Personal Data Protection Bill (PDPB) and GDPR (for EU users), you have the right to:
- Access your personal data
- Correct inaccurate information
- Request deletion (right to be forgotten)
- Data portability (export your data)
- Withdraw consent for non-essential processing
Contact privacy@saforax.com to exercise these rights.
7. Data Retention
We retain your data as follows:
- Active accounts: Data retained until account deletion
- KYC records: 5 years after account closure (PMLA)
- Transaction records: 7 years (Income Tax Act)
- Audit logs: 3 years for platform security
8. Cookies and Tracking
We use essential cookies for authentication and security. Analytics cookies (if enabled) help us improve the platform. You can control cookie preferences through your browser settings. We do not use third-party advertising cookies.
9. Contact Us
Data Protection Officer: privacy@saforax.com
Postal Address: [Your Business Address], India