New and Existing Account Identification and Verification
New and Existing Account Identification and Verification
Policy
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Document Number: REDFLAG--113 Revision #: 1.0
Document Owner: Executive VP Date Last Updated: 08/17/2012
Primary Author: Executive VP Status: Approved
Date Originally Created: 01/03/2012
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General Description
Description: Information about new and existing account information and verification relative to Red Flags Identity Theft Policy.
Purpose: Delineation of policy.
Scope: All faculty, staff, students, and administrators
Responsibility: Executive VP
VP of Business and Finance
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Requirements
Relevant Knowledge: In order to comply with this policy you should know:
Current University policy
Federal statutes
Local statutes
Standard company policies
Standards of good practice
State statutes
Terms and Definitions: Additional training
Corrective Action
Loss of privilege, general
Suspension
Termination
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Policy Provisions
1. New and Existing Account Identification and Verification
1.1 New Accounts
Opening new accounts requires one of the following identification, document and non-document verification.
1.1.1 Customer Identifying Information
1. Legal Name
2. Date of Birth
3. Physical Address
4. Social Security Number
5. EIN
6. Passport and Country of Issuance
7. Alien Identification Card Number
8. Power of Attorney
9. Other
1.1.2 Verification Documents
When opening new accounts company representatives must request two sources of identification, one primary and one secondary.
Primary Identification
1. US State Picture Driver’s License
2. US State Picture Issued ID Card
3. US Passport
4. US Military Picture ID
5. Federal Picture ID
6. Alien Registration Card
7. Other
Secondary Identification
1. Social Security card
2. Individual taxpayer identification card
3. EIN
4. Voter registration, state of residence
5. Birth Certificate
6. Credit card
7. Bank cards
8. Insurance Cards
9. State government
10. Local government
11. Company identification
12. Police identification
13. Temporary Drivers Licence
14. US Federal Government issued Permanent Resident Card
15. US Federal Government issued Employment Authorization
16. Other
Alternative Documents for Elderly or Disabled
1. Utility Bill: telephone, electricity, gas, water.
2. Voters Registration
3. State issued birth certificate
4. Company retirement check payable to individual.
5. Federal or state or county benefit check issued to individual.
6. Court documents indicating custodian or fiduciary appointment
7. Social Security Card.
8. Individual Tax Identification Card
9. Other
Non-Document Verification
Company representatives must follow-up document verification with non-document verification. Acceptable forms of non-document verification are:
1. Credit report
2. Previous bank/credit union reference
3. Site visit
4. Telephone call to customer
5. Letter of Welcome
6. Public data base
7. Financial Statement
8. Professional papers
9. Certified articles of incorporation
10. Partnership agreement
11. Association resolution
12. Assumed name certificate
13. Trust agreement
14. Business license
15. Criminal Background Check
16. Medical Information Bureau (MIB) File
17. Other
1.2 Existing Accounts
Customer access of existing accounts requires the following identification, document and non-document verification depending upon the mode of operation.
1.2.1 Account Access in Person--Verification with Documents
Primary Identification
1. US State Picture Driver’s License
2. US State Picture Issued ID Card
3. US Passport
4. US Military Picture ID
5. Federal Picture ID
6. Alien Registration Card
7. Other
Secondary Identification
1. Social Security card
2. Individual taxpayer identification card
3. EIN
4. Voter registration, state of residence
5. Birth Certificate
6. Credit card
7. Bank cards
8. Insurance Cards
9. State government
10. Local government
11. Company identification
12. Police identification
13. Temporary driver license
14. US Federal Government issued Permanent Resident Card
15. US Federal Government issued Employment Authorization
16. Other
Alternative Documents for Elderly or Disabled
1. Utility Bill: telephone, electricity, gas, water.
2. Voters Registration
3. Family Bible, on the “Birth” page the individual’s name and date of birth
4. State issued birth certificate
5. Company retirement check payable to individual.
6. Federal or state or county benefit check issued to individual.
7. Court documents indicating custodian or fiduciary appointment
8. Social Security Card.
9. Individual Tax Identification Card
10. Other
1.2.2 Account Access On-line
Customer Identifying Information
1. Legal Name
2. Date of Birth
3. Physical Address
4. Account Number
5. Policy Number
6. Student Number
7. Social Security Number
8. EIN
9. Personal Identification Number
10. User ID
11. Password
12. Personal Knowledge Questions
13. Other
1.2.3 Account Access by Telephone
Customer Identifying Information
1. Legal Name
2. Date of Birth
3. Physical Address
4. Account Number
5. Policy Number
6. Student Number
7. Social Security Number
8. EIN
9. Personal Identification Number
10. User ID
11. Password
12. Email Address
13. Personal Knowledge Questions
14. Other
1.2.4 Account Access by Mail
Customer Identifying Information
1. Legal Name
2. Date of Birth
3. Physical Address
4. Account Number
5. Policy Number
6. Student Number
7. Social Security Number
8. EIN
9. Personal Identification Number
10. User ID
11. Password
12. Email Address
13. Personal Knowledge Questions
14. Letter of Instruction
15. Signature Guarantee
16. Notarization
17. Power of Attorney
18. Other
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Performance Evaluation
Performance Metrics: Compliance with standard policy and procedure
Compliance with federal mandate
Consequences: Further training
Job Termination
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Subject Experts
The following may be consulted for additional information.
Executive VP
VP of Business and Finance