Dáil Éireann Debate, Tuesday - 8 September 2020
273. Deputy Matt Carthy asked the Minister for Finance the personally identifiable information required to be held by the provider of State savings or other financial products, services in order to ensure a person accessing an account, service in person can be appropriately identified; and if he will make a statement on the matter. [22425/20]
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 set out the information to be provided by purchasers/holders in order to confirm their identity and to enable the NTMA’s agents to verify the identity of holders.
Holders must confirm Surname, First Name, Date of Birth, Address and Personal Public Service Number (PPSN). The NTMA is a ‘specified body’ for the purposes of sections 262 to 270 and Schedule 5 of the Social Welfare Consolidation Act 2005, as amended. This provides the power to the NTMA, acting on behalf of the Minister for Finance, to request holders of State Savings products to provide their PPSN in order to verify the identity of such holders.
Personal data (including PPSN) 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.
