Know Your Clients

What happens to your information? above: from Office of the Auditor General of Canada

In a business that is highly dependent upon referrals, we need to know information about our client. Some call this "qualifying" your client.
But in the past decade or so, governments around the world have been trying to stay ahead of money laundering, grow operations and terrorist financing by requiring that businesses "know their clients" by asking for ID at point of contract. Valid identification might include a birth certificate, driver's license, or something similar.
This is required for numerous financial activities such as home purchases/sales, depositing funds to banks, buying a money order or even taking out life insurance. I know a lot of people who get downright nasty when asked to provide information about themselves that they feel is nobody's business but their own. But unfortunately, it is the law that it be collected.
It's a beautiful neighbourhood/world we live in huh!
For more information you could call the Unitarian Service Committee, 66 Sparks Street, Ottawa 4, Ontario or if you want to learn a little more about FINTRAC you could call the Financial Transactions and Reports Analysis Centre of Canada at 1-866-346-8722 or webit @ www.fintrac-canafe.gc.ca