1. Order Management Guide Addendum for Financial Services
  2. Collecting Identity Information

Collecting Identity Information

Identity checks are a critical step in the process of opening a new financial account and they require valid forms of identification from a customer. This information is collected for compliance purposes. Identity checks consist of the following components:

  • Collection of identity information. Includes a customer’s passport, social security card, or birth certificate.

  • Office of Foreign Assets Control Regulations (OFAC). Enforces economic and trade sanctions against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction. OFAC acts to prevent prohibited transactions, which are described by OFAC as trade or financial transactions and other dealings in which U.S. persons may not engage unless authorized by OFAC or expressly exempted by statute. This task is a step in Process of Creating a Financial Services Application.

To collect identity information

  1. Navigate to the Financial Applications screen, then the List view.

  2. In the Orders list view, drill down on the record for the appropriate order by clicking the Order Number field, and then click the Applicant view tab.

  3. In the Identity Information view, click New.

  4. In the Identity Information applet, complete the necessary fields. Some fields are described in the following table.

    Field Description

    Type

    Select Identity Check.

    Document Type

    Select the type of document used to verify the applicant’s identity. The options include:

    • Passport

    • Drivers License
    • Birth Certificate

    Country

    Select the country that issued the document used to verify the applicant’s identity. The options include:

    • United States

    • Other

    Overide Reason

    If the Override check box is selected, you must provide an Override Reason. The options include:

    • Minor - No Docs Required

    • Non-Relevant Role - No Docs Required
    • Other

  5. Click OK.

    Use the following procedure to collect OFAC information,

To collect OFAC information

  1. Navigate to the Financial Applications screen, then the List view.

  2. In the Orders list view, drill down on the record for the appropriate order by clicking the Order Number field, and then click the Applicant view tab.

  3. In the Identity Information applet, click Type, and then select OFAC Check.