Data Protection & Anti-fraud Security Recommendations
The offices of Network Yacht Brokers are ready to implement the new Data Protection Legislation coming in to force in the UK on 25th May 2018. The General Data Protection Regulation (GDPR), is EU wide legislation, and is currently being enacted into UK law and will become the 2018 Data Protection Act.
This legislation will affect every business that handles personal data for clients or staff. Personal data has been defined by the act as ‘any information relating to an identifiable person who can be directly or indirectly identified’, this will include such data as name and contact details, but may also include other information.
We do not have a central database at Network Yacht Brokers, however, we wish to bring to your attention that each office of Network Yacht Brokers is a separate business in and of itself, and have their own independent client databases, and the responsibility for managing personal information and contact details will lie with the offices at which customers have registered their details. It is policy for each of our offices to take full responsibility for ensuring that they meet the standards expected by these new regulations, and to only use data for the purpose for which it was collected.
We are aware that internet fraud is prevalent, and that there are many different ways in which fraudsters can go about their business. The sale of boats involves high value transactions, and so the security of those transactions must be given high priority. It is essential that all customers of Network Yacht Brokers undertake every possible precaution to ensure that they are fully protected and are aware of pitfalls.
Fraudsters are getting very clever, and are no longer easily identifiable by scratchy English and poorly worded messages, and there are too many different ways in which these fraudsters operate to list, but if you follow some basic rules it should help you to feel confident that you are not exposed. No money should be forwarded for any payments without making direct contact with the broker with whom you have been dealing, or one of his/her colleagues. When paying for a boat or paying a deposit, we recommend that you follow a procedure in which checks are made to confirm every detail of the transaction, and it may be wise to send a preliminary sum of £1 just to test that all is well. Above all do nothing until you are sure and have double-checked who you are dealing with, and that you DO NOT respond to emailed requests for any payments unless you are CERTAIN that it has come from your broker.
We are under increasing scrutiny to ensure that we comply with anti-money laundering regulations, so when entering a sales process as a buyer or seller please do not be offended if you are asked by your broker to produce some photographic form of ids such as a passport or drivers licence, and a utility bill showing your address.