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When Customers Can’t Sign Their Names, Customer Identification Can Be Tricky
By Brian Monroe
printIn fulfilling their customer identification and risk assessment requirements, banks typically will have their employees obtain from the new client a copy of a standard, government issued photo identification card as well as a signature. But that can be difficult, said Larry Goldberg, the chief compliance officer at Miami-based Coconut Grove Bank, if the person who wants to open an account or transact business doesn't possess a standard photo ID, can't sign for themselves or has someone else acting in their stead because they are disabled or elderly. "You have to be careful," said Goldberg, who has been in banking...
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