Transaction Identification and Verification

Transaction Identification and Verification
Policy

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Document Number: REDFLAG--112 Revision #: 1.0
Document Owner: Executive VP Date Last Updated: 08/17/2012
Primary Author: Executive VP Status: Approved
Date Originally Created: 12/15/2011
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General Description
Description: Information about transaction identification and verification relative to Red Flags Identity Theft Policy.

Purpose: Delineation of policy and procedure.

Scope: All faculty, staff, students, and administrators

Responsibility: Administration
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
Terms and Definitions: Additional training

Corrective Action
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Policy Provisions
1. Transaction Identification and Verification

The University requires company representatives to verify adequate means of identification from a person before they can transact business with a check, credit card, or debit card on behalf of themselves, a group or an entity.

1.1 Personal or Company Check Transactions

University representatives must not accept a check for payments without adequately verifying at least one form of identification from the following list of current and non-expired forms of identification.
1. US State Driver’s License
2. US State Picture ID
3. US Passport
4. US Military ID
5. US Federal ID
6. Alien Registration Card
7. Physical Address
8. Phone Number
9. Valid Signature
10. Other

1.2 Credit or Debit Card Transactions

University representatives must not accept credit card or debit card payments without adequately verifying at least one form of identification from the following list of current and non-expired forms of identification.
1. US State Driver’s License
2. US State Picture ID
3. US Passport
4. US Military ID
5. US Federal ID
6. Alien Registration Card
7. Physical Address
8. Credit / Debit Card Number
9. Expiration Date
10. CVC2 / CVV2 / CID
11. Valid Signature
12. Other

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Performance Evaluation
Performance Metrics: Compliance with standard policy and procedure
Compliance with federal mandate

Consequences: Further training
Loss of privileges
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Subject Experts
The following may be consulted for additional information.
Executive VP

VP of Business and Finance