Customer identification definition
Customer identification means undertaking the process of CDD.
Customer identification is defined in Section 8.11.2.
Customer identification means identification of the Customer and/or representative thereof in accordance with the procedure established herein and in legal acts in force.
Examples of Customer identification in a sentence
Customer identification is to be performed before providing the telephone service as well as before any other banking services / customer registration for various Bank products (electronic services).
The Agent shall retain the Customer identification records for at least the minimum period required under applicable laws and regulations, and shall, if so requested, in compliance with applicable data protection laws, make such records available to the Third Party Deposit Provider and to the appropriate authorities with jurisdiction over the Third Party Deposit Provider in order to enable it to comply with applicable AML, anti-terrorism or KYC laws or regulations applying to it.
More Definitions of Customer identification
Customer identification. Program (“CIP”) Services.
(a) To help the Trust comply with its Customer Identification Program (which the Trust is required to have under regulations issued under Section 326 of the USA PATRIOT Act) PFPC will do the following:
(i) Implement procedures under which new accounts in the Trust are not established unless PFPC has obtained the name, date of birth (for natural persons only), address and government-issued identification number (collectively, the “Data Elements”) for each corresponding “Customer” (as defined in 31 CFR 103.131).
(ii) Use collected Data Elements to attempt to reasonably verify the identity of each new Customer promptly before or after each corresponding new account is opened. Methods of verification may consist of non-documentary methods (for which PFPC may use unaffiliated information vendors to assist with such verifications) and documentary methods (as permitted by 31 CFR 103.131), and may include procedures under which PFPC personnel perform enhanced due diligence to verify the identities of Customers the identities of whom were not successfully verified through the first-level (which will typically be reliance on results obtained from an information vendor) verification process(es).
(iii) Record the Data Elements and maintain records relating to verification of new Customers consistent with 31 CFR 103.131(b)(3).
(iv) Regularly report to the Trust about measures taken under (a)-(c) above.
(v) If PFPC provides services by which prospective Customers may subscribe for shares in the Trust via the Internet or telephone, work with the Trust to notify prospective Customers, consistent with 31 CFR 103.131(b)(5), about the Trust’s CIP.
(vi) Set forth on a separate fee schedule compensation amounts due for these CIP Services.
(b) Notwithstanding anything to the contrary, and without expanding the scope of the express language in this Section 17, PFPC need not collect the Data Elements for (or verify) prospective customers (or accounts) beyond the requirements of relevant customer identification program regulations (for example, PFPC will not verify customers opening accounts through NSCC) and PFPC need not perform any task that need not be performed for the Trust to be in compliance with relevant customer identification program regulations.
(c) PFPC agrees to permit inspections relating to the CIP Services provided hereunder by U.S. Federal departments or regulatory agencies with appropriate jurisdiction and to make available to examiners...
Customer identification means undertaking the process of CDD. “Person” has the same meaning as defined in the Act and includes:
Customer identification means undertaking the process of CDD.“FATCA” means Foreign Account Tax Compliance Act of the United States of America (USA) which, inter alia, requires foreign financial institutions to report about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest.
Customer identification. Name: _________________________________________ Property Address: _____________________________ Project Reference: ____________________________ Proposed Distribution Date: ___________________ DEPOSITS: (Certified) (Uncertified) (Cashier's) check(s) and/or wire(s) in the amount (s) of $__________________representing: ______________________________________________. ______________________________________________. ______________________________________________. DOCUMENT(S) DEPOSITS: Type of Documents: ____________________________. ____________________________. ____________________________. CONDITIONS FOR Chicago Title Insurance Company's service as escrow agent: