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General Description
Requirements
Policy Provisions
Performance Evaluation
Subject Experts
New and Existing Account Identification and Verification
Policy

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

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

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