§ 36.034 DETECTING RED FLAGS.
   The Department hereby establishes the following procedures to assist in detecting red flags in connection with the opening of covered accounts and existing covered accounts.
   (A)   New accounts. New accounts may be opened in person, by fax or by mail or phone. In all cases, a potential customer must submit all of the following information:
      (1)   Full legal name;
      (2)   Telephone number;
      (3)   Mailing address;
      (4)   Social Security number; and
      (5)   Must be on the lease if a rental property.
   (B)   Existing accounts. When handling a transaction regarding an existing account, the Department staff will take the following steps to monitor transactions with an account in order to detect possible red flags as listed above:
      (1)   Verify the identification of customers if they request information (in person, via telephone, via facsimile or via e-mail);
      (2)   Verify the validity of requests to change billing addresses: and
      (3)   Verify changes in banking and credit card information given for billing and payment purposes.
(Res. 2011-04, passed 3-14-2011)