Question

Select True or False for each of the following statements about ID requirements.
True False
You are required to request and obtain a valid form of photo identification from a customer at the beginning of the
transaction or when prompted by the register.
If a customer tries to avoid giving you their ID, you can still go through with the transaction.
You must not accept a post office box as a physical address when processing a financial service transaction.
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Answer 1

In a financial service transaction, it is required the customer provides a valid form of photo identification (true), it is not possible to proceed without an identification (false), and the real physical address of the customer is required (true).

A financial service transaction is a service that allows customers to send money or receive money. This service has become quite popular in the last years, and many banks around the world offer it.

Moreover, there are specific rules and protocols for financial transactions as identity theft and fraud are possible. These rules include:

• Asking customers for a valid form of photo identification such as showing their ID to prove the identity of the customer
• Asking the customer for his ID and refusing to continue with the transaction if the ID is not shown or the customer refuses to give necessary information to validate his/her identity
• Asking for the physical address of the customer and not accepting a general address or a post office box address

Based on this, the first statement is true, the second one is false and the third one is true.

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