USA Patriot Act
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING OR CHANGING AN ACCOUNT WITH YOUR FINANCIAL INSTITUTION
Section 326 of the USA PATRIOT ACT requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or changes an existing account. This federal requirement applies to all new customers and current customers. This information is used to assist the United States government in the fight against the funding of terrorism and money-laundering activities.
What this means to you: when you open an account or change an existing account, we will ask each person for their name, physical address, mailing address, date of birth, and other information that will allow us to identify them. We will ask to see each personís driverís license and other identifying documents and copy or record information from each of them.
UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT (UIGEA) OF 2006
The UIGEA, signed into law in 2006, prohibits any person engaged in the business of betting or wagering (as defined in the Act) from knowingly accepting payments in connection with the participation of another person in unlawful internet gambling.† The Department of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful internet gambling means to "place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the internet where such a bet or wager is unlawful under any applicable Federal or State law in the State or Tribal lands in which the bet or wager is initiated, received or otherwise made."
As a customer of People's Bank, these restricted transactions are prohibited from being processed through your account or banking relationship with us.† If you do engage in an Internet gambling business and open a new account with us, we will ask you to provide evidence of your legal capacity to do so.
Please see our Operations specialists if you would like additional information on UIGEA or Regulation GG.