Can I see some ID please?

Can I see some ID please?

 

As a member of North Sydney Credit Union, you may have been asked recently for a piece of identification, to confirm your address or for your current occupation at the counter.  We are asking our members this information for two reasons:

1) we are required by law to ask for and confirm this information  and

2) we want to protect you (our members)

 

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), an independent agency reporting to the Minister of Finance, was created in 2000 “to facilitate the detection, prevention and deterrence of money laundering and terrorist activity financing, while ensuring the protection of personal information under its control”  www.fintrac-canafe.gc.ca

 

All financial institutions (including credit unions) are required to comply with The Proceeds of Crime (Money Laundering) and Terrorist Financing Act or PCMLTFA.  This is a federal law requiring us to identify our members and maintain records confirming your identity, occupation and address for FINTRAC.  With the internet in almost every home, criminals / cyber criminals can find more ways to access your information. Proceeds from criminal activity often fund more criminal activity.  Please visit our Fraud section of the website to find out more on how to protect yourself. 

 

Click here for more information on FRAUD 

For these reasons, we are asking for your co-operation and your identification.  We have an obligation to our members to safeguard their money and to comply with regulations.  Would you expect us to do anything less?

To learn more about FINTRAC please visit www.fintrac.gc.ca

 

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