This program addresses the detection of red flags in connection with the opening of covered accounts and existing covered accounts, such as by:
(A) Identifying information. Obtaining identifying information about, and verifying the identity of, a person opening a covered account; and
(B) Verification. Authenticating customers, monitoring transactions, and verifying the validity of change of address requests in the case of existing covered accounts.
(Ord. 1046, passed 2-3-08)