MORNBFI Vol. 1 - Planters Development Bank

APP. Q-23-e08.12.318. These guidelines are divided intotwo sections covering different aspects ofcustomer identification. Section Adescribes what types of information shouldbe collected and verified for naturalpersons seeking to open accounts orperform transactions. Section B describeswhat types of information should becollected and verified for institutions andis in two parts, the first relating to corporatevehicles and the second to other types ofinstitutions.9. All the terms used in theseguidelines have the same meaning as inthe Customer due diligence for banks paper.A. Natural Persons10. For natural persons the followinginformation should be obtained, whereapplicable:• legal name and any other namesused (such as maiden name);• correct permanent address (the fulladdress should be obtained; a Post Officebox number is not sufficient);• telephone number, fax number,and e-mail address;• date and place of birth;• nationality;• occupation, public position heldand/or name of employer;• an official person identificationnumber or other unique identifiercontained in an unexpired officialdocument (e.g. passport, identification card,residence permit, social security records,driving license) that bears a photograph ofthe customer;• type of account and nature of thebanking relationship;• signature.11. The bank should verify thisinformation by at least one of the followingmethods:• confirming the date of birth from anofficial document (e.g. birth certificate,passport, identity card,social security records);• confirming the permanent address(e.g. utility bill, tax assessment, bankstatement, a letter from a public authority);• contacting the customer bytelephone, by letter or by e-mail to confirmthe information supplied after an accounthas been opened (e.g. a disconnectedphone, returned mail, or incorrect e-mailaddress should warrant further investigation);• confirming the validity of theofficial documentation provided throughcertification by an authorized person (e.g.embassy official, notary public).12. The examples quoted above arenot the only possibilities. In particularjurisdictions there may be other documentsof an equivalent nature which may beproduced as satisfactory evidence ofcustomer’s identity.13. FIs should apply equally effectivecustomer identification procedures for nonface-to-facecustomers as for thoseavailable for interview.14. From the information provided inparagraph 10, FIs should be able to makean initial assessment of a customer’s riskprofile. Particular attention needs to befocused on those customers identifiedthereby as having a higher risk profile andadditional inquiries made or informationobtained in respect of those customers toinclude the following:• evidence of an individual’spermanent address sought through a creditreference agency search, or throughindependent verification by home visits;• personal reference (i.e., by anexisting customer of the same institution);• prior bank reference and contactwith the bank regarding the customer;• source of wealth;• verification of employment, publicposition held (where appropriate).15. For one-off or occasionaltransactions where the amount of thetransaction or series of linked transactionsdoes not exceed an established minimumQ RegulationsAppendix Q-23-e - Page 2Manual of Regulations for Non-Bank Financial Institutions