As part of the USA PATRIOT Act, signed into law October 2001, Pacific Advantage FCU is implementing new security measures that protect you and your credit union.
The PATRIOT Act requires all financial institutions to implement specific procedures for:
- Verifying a person’s identity when opening an account;
- Maintaining records of information used to verify a person’s identity; and
- Determining if the person opening an account appears on any lists of known terrorist suspects provided by a government agency.
These new security measures not only will help prevent money laundering and fight financial support of terrorism, but also will help in the prevention of identity theft and other types of fraud.
The USA PATRIOT Act is part of antiterrorism legislation enacted after Sept. 11, 2001.
Copyright 2002 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.
