Dáil Éireann Debate, Tuesday - 8 September 2020
272. Deputy Matt Carthy asked the Minister for Finance the regulations in place with regard to proof of identification and verification with regard to accessing and or closing financial services or accounts administered by An Post or other bodies; and if he will make a statement on the matter. [22424/20]
View answerState Savings products are offered by the Minister for Finance acting through the National Treasury Management Agency (NTMA) pursuant to the powers conferred on the NTMA by the National Treasury Management Agency Act 1990 and the National Treasury Management Agency Act 1990 (Delegation of and Declaration as to Functions) Order 1990 (S.I. No. 277 of 1990).
State Savings products are subject to published Terms and Conditions which contain the applicable requirements regarding evidence and verification of the identity of purchasers/holders. Prize Bonds, administered by the Prize Bond Company, are also subject to the Prize Bonds Regulations 1993 to 2019 which contain a regulation regarding evidence of identity.
Personal data (including Personal Public Service Number) provided by holders is processed for the purposes of transactions in respect of State Savings products, the administration of State Savings products and associated legal purposes including compliance with anti-money laundering requirements under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended. Under such legislation, designated bodies, such as An Post, are required by law to verify customers’ identities.
