US Patriot Act - October 1, 2003     

What data firms need to gather, verify and maintain?

 

Collect Customer Info

Verify Validity

Maintain Records / Notes

SDN Verification

The following minimum information needs to be gathered for every customer.

For Individual Owner of an account,

  • Last-Name, First-Name, Middle-Initial

  • Mailing Address

  • Permanent Address

  • Resident Phone number

  • Date of Birth  

  • Nationality

  • Social Security Number

  • Foreign Nationals - passport number or US Permanent Resident Alien Number

  • Employer Information

    • For Companies

    • Company Name and aliases

    • Mailing Address

    • Permanent Address

    • Phone Number and Contact Name

    • Taxpayer Identification Number

    • Foreign Companies - government issued registration number  

    Firms may need to collect the copies of,

    • Drivers License

    • Social Security Card  

    • Alternate Identification Document (e.g.  a copy of a utility bill) 

    • Foreign passport

    • Resident Alien Card

    • Foreign Registration  for companies  

    Verification include,

    §      Manual Check

    §      Verify data against published government sources (e.g. SSN, Driver's License, Passport check)

    §      Alternate verification using third-party published data (e.g. search in third-party public databases)

    §       Automated verification includes a) City/State/ZIP check, b) SSN validity check c) permanent phone number check.

    §       Manual verification includes a) SSN verification though Government resources b) Driver's license check c) foreign passport check though foreign Embassies

     

    Firms need to maintain records. Examples include,

    a)    Paper documents or scanned images of documents

    b)    Verification methods used and person who verified

    c)    Alternate verification method and person who verified

    Check every single customer against OFAC SDN list and maintain record of

    1.      matched data

    2.      partial match data

    3.      unmatched data

    4.      last check against OFAC

    For matched and partial matched data, generate a form for compliance officer to be forwarded to OFAC

    By using our e-OFAC-Check service and BPO based services, eOutsourceIT is ready to help you to achieve your goal - to comply with the US Patriot Act. Refer to our OFAC-Services in the previous page.

     

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