The Consumer Credit Bureau
CBS Operations
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Banks’ Lending Decisions
Rectifying Inaccurate Information In Your Credit Report
My Credit File - Online
CBS Information
Access
Q1. Who can access my credit report?
A. Only Credit Bureau (Singapore) and other MAS-approved institutions participating in Credit Bureau (Singapore) can have access to a consumer's credit report. The purpose for such access is restricted to the assessment of credit-worthiness of the consumers, and further disclosure to any other person is prohibited. All authorised personnel (of both members and the Bureau) will have unique ID and passwords to identify themselves when they access the Bureau’s database. Access by unauthorised personnel is prohibited. All access to the Bureau’s database is tracked.
Confidentiality
Q2. Can Credit Bureau (Singapore) provide my information to companies such as direct marketing companies?
A. No. Credit Bureau (Singapore) is not permitted to do this, and can only provide information to its members. Members can only access the information for credit-worthiness checks.
Q3. Can Credit Bureau (Singapore) provide credit report information to credit providers in other countries?
A. No. Credit Bureau (Singapore) can only provide credit report information to its members in Singapore.
Q4. Can Credit Bureau (Singapore) disclose my information to any other parties?
A. No. Credit Bureau (Singapore) can only disclose information about you as authorised under the Banking Act. It cannot disclose your information to any unauthorised party. Credit Bureau (Singapore) must also maintain a high standard of confidentiality and prudent operations for the Bureau to keep its gazetted status. Without the gazetted status, it will be illegal for banks to provide customer information to Credit Bureau (Singapore).
Q5. Are all my personal profile data held by my bank reported and disclosed to Credit Bureau (Singapore) and its members?
A. Not all your personal profile data held by your bank is reported to the Bureau. Only your basic personal profile data such as name, gender, nationality, ID, occupation, date of birth and postal code (without your full address and contact numbers) may be provided to Credit Bureau (Singapore). These are required for matching data from various sources to the correct individuals. Banks also use them to conduct data verification in their credit-worthiness assessment process. Such basic personal profile data is in the credit report that members of Credit Bureau (Singapore) can access for the purpose of credit-worthiness assessment only. As an added data privacy safeguard measure, Credit Bureau (Singapore) has subscribed to the CaseTrust Accreditation Scheme and has subjected its system and procedures to assessment by CaseTrust. Data privacy protection is one of the principles that CaseTrust requires its members to adhere to.
Security
Q6. How does Credit Bureau (Singapore) ensure that information in the database is kept safely?
A. Credit Bureau (Singapore)'s security measures are aligned with stringent risk management standards and are subjected to regular audits and testing by leading IT service companies. The CaseTrust scheme also requires that a standard of data security be met before Credit Bureau (Singapore) is accredited.
Q7. What additional safeguards are there to protect my data in Credit Bureau (Singapore)’s database?
A. In addition to the strict access of data to only authorised Bureau members, the restricted use of the data for only credit-worthiness assessment and the IT security of the database, access to your own credit report allows you to dispute any information that you feel is inaccurate. This will help to ensure that the data held by Credit Bureau (Singapore) is accurate.