[Code of Federal Regulations]
[Title 30, Volume 1]
[Revised as of July 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR103.28]

[Page 392]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
                      CHAPTER I--MONETARY OFFICES,
                       DEPARTMENT OF THE TREASURY
 
PART 103_FINANCIAL RECORDKEEPING AND REPORTING OF CURRENCY AND FOREIGN 
 
                  Subpart B_Reports Required To Be Made
 
Sec. 103.28  Identification required.

    Before concluding any transaction with respect to which a report is 
required under Sec. 103.22, a financial institution shall verify and 
record the name and address of the individual presenting a transaction, 
as well as record the identity, account number, and the social security 
or taxpayer identification number, if any, of any person or entity on 
whose behalf such transaction is to be effected. Verification of the 
identity of an individual who indicates that he or she is an alien or is 
not a resident of the United States must be made by passport, alien 
identification card, or other official document evidencing nationality 
or residence (e.g., a Provincial driver's license with indication of 
home address). Verification of identity in any other case shall be made 
by examination of a document, other than a bank signature card, that is 
normally acceptable within the banking community as a means of 
identification when cashing checks for nondepositors (e.g., a drivers 
license or credit card). A bank signature card may be relied upon only 
if it was issued after documents establishing the identity of the 
individual were examined and notation of the specific information was 
made on the signature card. In each instance, the specific identifying 
information (i.e., the account number of the credit card, the driver's 
license number, etc.) used in verifying the identity of the customer 
shall be recorded on the report, and the mere notation of ``known 
customer'' or ``bank signature card on file'' on the report is 
prohibited.

(Approved by the Office of Management and Budget under control number 
1505-0063)

[52 FR 11443, Apr. 8, 1987; 52 FR 12641, Apr. 17, 1987, as amended at 54 
FR 3027, Jan. 23, 1989. Redesignated at 54 FR 33678, Aug. 16, 1989; 59 
FR 61662, Dec. 1, 1994]