The program shall address the detection of red flags in connection with the opening of covered accounts and existing covered accounts, such as by:
(a) Obtaining identifying information about, and verifying the identity of, a person opening a covered account; and
(b) Authenticating customers, monitoring transactions, and verifying the validity of change of address requests in the case of existing covered accounts.
(Ord. 109-09. Passed 7-13-09.)