At Grow, we take your privacy and security seriously. This article explains our identity verification process, why it's necessary, and how we handle your sensitive information.
Why We Collect Identification Information
As registered tax agents, we are required under the Tax Agent Services Act 2009 to verify the identity of our clients. This helps prevent fraud and ensures compliance with Australian tax laws.
Importantly, strong identity verification processes help prevent fraudulent SMSF registrations and unauthorised transfers.
Our Identity Verification Process
We use Stripe's identity verification product to collect and verify your identification documents securely. This process involves:
1. Uploading primary identity documents (driver's license or passport)
2. Live capture using biometric security to prevent fraudulent verifications
How We Use Your Information
Your verified identity information is used to:
1. Comply with legal requirements
2. Prefill bank and broker applications (when requested by you)
3. Provide certification for superannuation transfers (upon request)
Data Storage and Security
We only store the verification result in our database, not your ID documents or numbers.
Sensitive identity data remains with Stripe, our trusted verification partner.
Access to verification data is strictly limited to a tiny cohort of authorised Grow employees who have undergone police checks.
Stripe data can only be accessed from Grow-controlled devices with multi-factor authentication or a biometric passkey.
Third-Party Applications
When your identity information is used to prefill applications for banks or brokers:
We do not retain copies of these applications.
Once finalized, the applications are not accessible to Grow employees.
For information on how third-party providers handle your data, refer to their data collection and privacy policies.
Requesting Data Deletion
You can request the redaction of your ID data at any time. This is a manual process conducted by authorized Grow employees.
Special Considerations for Superannuation Transfers
In cases where you request certification of your ID document for transferring superannuation:
This is the only instance where sensitive ID verification documents are temporarily moved into Grow's systems
Once you download your certified ID document, you can request their deletion from our systems
Best Practices for Handling ID Information
We strongly recommend against emailing sensitive ID documents
Once you've provided the necessary documents to third parties, delete all copies from your devices and emails
Regularly review and update your identity information to ensure accuracy
Questions or Concerns?
Please contact our customer support team if you have any questions about our identity verification process or how we handle your data.