Which data are kept
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Tiresias keeps the most valid credit bureau registries on private citizens and businesses, thus contributing to trade credit protection and reducing bad debt in banking and commercial transactions.
The Credit Bureau Registries in place are as follows:
Default Financial Obligations System (DFO) and Mortgages and Prenotations to Mortgages System (MPS)
I. Data on economic behaviour and defaulting on specific financial obligations are retained in order for recipients to evaluate the solvency of their counterparties.
ΙΙ. Data on economic behaviour and mortgages – mortgage prenotations – are retained in order for recipients to be informed about in rem encumbrances on the real estate of debtors and the consequent ability and to obtain in rem collateral to secure themselves against the credit risk they have assumed.
Credit Consolidation System (CCS)
The data in this file relate to information about credit risks assumed by natural and legal persons (individuals, businesses irrespective of their legal form or size, etc.) from all forms of financing from credit and financial institutions, including those arising in the context of settling overdue debts to those bodies. Data is retained to allow recipients of the data to assess the creditworthiness of their counterparties.
Risk Checking System (TSEK)
This file maintains specific categories of data drawn from the above DFO and MPS files, which are retained in order to safeguard commercial credit, reliability, the security of transactions and the exercise of the rights of economic freedom and the freedom to provide information to businesses by allowing businesspeople to assess the solvency of their counterparties.
The reference registry is retained to ensure that the natural (and legal) persons in other files can be precisely identified and to correctly correlate the data in Tiresias files with the natural (and legal) person they relate to. It is an internal file of the company and is not sent in its entirety to third parties “as is”, save in the context of obtaining data from the following files held by Tiresias for a specific natural or legal person. Τhe file contains information relating to the identification of natural persons (and legal persons).
Lost & Stolen Identity Card and Passport System (IPS)
In order to limit fraud and to protect citizens from any unlawful acts against them using ID cards or passports which have been stolen or lost, Tiresias keeps a file which records reports filed by citizens about theft or loss of ID cards or passports. This is an ancillary file and the data entered in it -as with other Tiresias files- is freely evaluated by the recipient. That entry of the data does not entail any commitment or obligation on the part of Tiresias or the recipients listed below.
Terminated Merchants System (TMS)
In order to limit the risk of fraud at transaction points with the use of credit, debit or other cards and to ensure a safer environment for such transactions, this file contains data about terminations of credit card acquisition contracts between banks and merchants, which are posted for specific reasons. These relate to anti-contractual or unlawful conduct by merchants (such as acceptance of stolen or counterfeited cards, sham transactions, “transaction splitting”, etc.).
Registry of Assigned Claims under Contracts / Certification of Execution of Public Works (CCEPW)
In order to protect credit, restructure transactions and limit fraud in banking transactions, data in this file are recorded about claims against the Greek State, bodies governed by public law, local government authorities assigned to credit and financial institutions, deriving from public works contracts and/or certificates of performance of such contracts, in whole or in part.
Registry of Companies’ Data from the Government Gazette Issues and the General Commercial Registry
This archive maintains data of deeds required to be published and the published particulars of companies relating to the incorporation, establishment of a branch of foreign companies, amendment of the Articles of Association, conversion, merger, spin-off, winding up, revival and other decisions published, in order to ensure the exercise of the rights of free information and the economic freedom of recipients and to facilitate them in discharging their obligations by making available to them data published in the Government Gazette and the General Commercial Registry.
Credit Scoring System
It is a credit rating file based on statistical processing models which calculate the score based on the statistical valuation of past trading behavior, in order to enable a comprehensive and more accurate assessment of the credit risks being assumed or already assumed, an assessment of the likelihood of default, recovery or deterioration in the credit behavior and consequently a reduction in bad debt.