South Dakota Trust Company is required to collect data on our clients. We use this information to serve our clients and in order to comply with laws that are in place to prevent illicit money laundering and terrorist financing. This privacy policy will explain how our organization uses the personal data we collect from you when you apply for an account at South Dakota Trust Company (SDTC).
Topics:
- What data do we collect?
- How do we collect your data?
- How will we use your data?
- How do we store your data?
- Marketing
- What are your data protection rights?
- Privacy policies of other websites
- Changes to our privacy policy
- How to contact us
- How to contact the appropriate authorities
What data do we collect?
SDTC collects the following data:
- Personal identification information (Name, date of birth, home address, taxpayer or government-issued identification number, email address, phone number, etc.)
- Financial information, including reported sources of wealth
How do we collect your data?
You or professionals you hire provide SDTC with most of the data we collect. We collect data and process data when you apply for an account where SDTC will be providing our products or services to you and you provide the information that we are required to obtain.
How will we use your data?
SDTC collects your data so that we can process your instructions and administer your account. SDTC is required by laws and regulations to collect your data as a prerequisite to establishing an account for you.
If an account is opened at SDTC, we will only share your data with our vendors who provide services that enable SDTC to administer and secure your account.
How do we store your data?
SDTC securely stores your data at our offices in South Dakota. Your data is securely maintained, is protected from disclosure and may be accessed by only those employees of SDTC who have a business purpose to view your personal information.
SDTC will keep your data for a period that is required by U.S. regulations, which is five years after your account is closed. Once this time period has expired, we will make it so that your data that is on our secure system is useless to anyone.
What are your data protection rights?
SDTC wants to make sure you fully understand your data protection rights under the GDPR. You are entitled to the following:
- You have a right to request copies of your personal information that we maintain.
- You have the right to correct any information that you believe is inaccurate or incomplete.
- You may request that we erase your personal information under certain circumstances subject to U.S. regulations.
How to contact us:
If you have any questions regarding our policy, you may reach SDTC by contacting the administrator assigned to your account, or you may contact SDTC’s Compliance Officer. at 201 S. Phillips Ave., Suite 200, Sioux Falls, South Dakota 57104.
Email us at: dzimbeck@sdtrustco.com
Or write to us at:
Compliance Officer
South Dakota Trust Company
201 S. Phillips Ave., Suite 200
Sioux Falls, South Dakota 57104
How to contact the appropriate authority:
Should you wish to report a complaint or if you feel that SDTC has not addressed your concern in a satisfactory manner, you may contact our regulatory authority, the South Dakota Division of Banking.
Division of Banking
South Dakota Department of Labor and Regulation
1714 Lincoln Ave., Suite 2
Pierre, SD 57501
Phone: 605.773.3421
Fax: 866.326.7504
email: banking@state.sd.us