I am in need of assistance on what is acceptable verbiage for a call center that opens new accounts with respect to the USA Patriot Act disclosure.
Model sign language for the retail lobby reads as follows:
"To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents."
Since that is alot to say each time a potential client calls in is there an acceptable shorter verbal model language that meets the criteria and keeps us in compliance with the act?
Would this be sufficient?
“In compliance with Federal Legislation, we will be requesting and verifying pertinent identity information”