Identification of Customers by a Notary
Answered by BOL Gurus Mary Beth Guard and Jack Holzknecht Bios
Question: Do you think that having a notary identify customers (when they cannot come to the bank) is sufficient? We currently use this procedure for joint applicants who are not present at an account opening - for CIP compliance.
Answer: Since there have been articles in the news recently about forged
notarizations, I wouldn't rely on that alone. Instead, obtain copies of the
customer's IDs, preferably in full color, at least 1/3 bigger than the
original. That, along with notarization of the signature card, gives you a higher degree of certainty that you know whom you're dealing with.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
