Services

DATA REGISTRIES OF FINANCIAL BEHAVIOUR

  1. Data Registry comprising credit facilities, Legal Actions and Court Decisions, Issuers of Dishonoured Cheques and Bankruptcies 

Categories and Sources of Data

As part of the Business of the Credit Institutions Law (Ν.66(Ι)/97), the Purchase of Credit Facilities and related Matters Law (N.169(I)/2015) and the Central Bank Cyprus’ Directive titled “The Operation of a System or a Mechanism for the Exchange, Collection and Provision of data Directive of 2015” (the “Directive”), Artemis maintains a Database which documents exclusively the economic behaviour of physical and legal entities and it comprises the following categories of information:

  • Personal Data that can be used to identify people such as ID or passport number, name, date of birth, and address received from banks, credit acquiring companies, the Management Committee of the Central Information Registry (CIR) and the Registrar of Companies and Official Receiver.
  • Credit Facilities collected from banks and credit acquiring companies. Credit Facilities include fixed maturity loans, current accounts with overdraft limits, credit cards, current accounts without overdraft limits but with debit balance greater than 200 euro, factoring, hire purchase, letters of guarantee and letters of credit.
  • Legal Actions and Court Decisions concerning credit facilities, which are collected from banks
  • Entries for the issuers of Dishonoured Cheques which are collected from the Management Committee of the Central Information Registry (CIR).
  • Bankruptcies and applications for bankruptcies which are obtained from the Department of Registrar of Companies and Official Receiver.
  • Dissolutions and applications to dissolutions of companies which are obtained from the Department of Registrar of Companies and Official Receiver.

Database Purpose

The database purpose is the assessment by the banks and the credit acquiring companies of the creditworhiness of their customers, their potential customers and their connected persons for the more effective management of credit and other related risks.

Data Retention Period


 a.
Data received by the banks and the credit acquiring companies are retained in the database as follows:

  • Demographics: For as long as there is information about the physical or legal person concerning credit facilities, Legal Actions/ Court Decisions, Central Information Registry data and bankruptcy data.
  • Credit Facilities: For as long as there is an oustanding payment.
  • Legal Actions/ Court Decisions: For as long as there is an outstanding debt for the respective legal action.

b. Information about the issuers of Dishonoured Cheques is deleted from Artemis Database according to the Rules / Procedures set up by the Management Committee of Central Information Registry (CIR).

c. Information about Bankruptcies / Dissolutions and applications of Bankruptcies / Dissolutions is kept on the Database according to the Regulations set up by the Registrar of Companies and Official Receiver.

Recipients 

The recipients of information are all the banks and credit acquiring companies that operate in Cyprus as well as the Central Bank of Cyprus. 

       2. Data Registry comprising Issuers of Dishonoured Cheques and Bankruptcies

Based on the Legitimate Interest, Artemis maintains a Database with the Issuers of Dishonoured Cheques and Bankruptcies with the purpose to support the monitoring and tackling of financial risk, the safeguarding of commercial credit and to support reliable transactions.

Categories and Sources of Data

  • Personal Data that can be used to identify people such as ID or passport number, name and address received from the Management Committee of the Central Information Registry (CIR) and the Registrar of Companies and Official Receiver.
  • Entries for the issuers of Dishonoured Cheques which are collected from the Management Committee of the Central Information Registry (CIR).
  • Bankruptcies and applications for bankruptcies which are obtained from the Department of Registrar of Companies and Official Receiver.
  • Dissolutions and applications to dissolutions of companies which are obtained from the Department of Registrar of Companies and Official Receiver.

Recipients

The recipients of information are banks that operate in Cyprus.

Data Retention Period

a. Information about the issuers of Dishonoured Cheques is deleted from Artemis Database according to the Rules / Procedures set up by the Management Committee of Central Information Registry (CIR).

b. Information about Bankruptcies / Dissolutions
and applications of Bankruptcies / Dissolutions is kept on the Database according to the Regulations set up by the Registrar of Companies and Official Receiver.