Effective October 31, 2023
To help the U.S. government fight the funding of terrorism and money laundering activities, Federal law requires all U.S. financial institutions to obtain, verify, and record information that identifies each individual or legal entity that opens an account or establishes a customer relationship with Palolo, Inc. (“Palolo”). Federal law also requires all U.S. financial institutions to obtain, verify, and record information that identifies the beneficial owners of a legal entity that opens an account or establishes a consumer relationship with Palolo.
What this means for you:
If you enter into a new customer relationship with Palolo, we will ask for the following:
In addition, if you enter into a new relationship with Palolo on behalf of a legal entity, we will ask for the following:
This information will be used to verify your identity and, in the case of a legal entity customer, the identity of the beneficial owners. As appropriate Palolo may, in its discretion, ask for additional documentation or information. If all required documentation or information is not provided or we are unable to verify the information provided, Palolo may be unable to open an account or establish a relationship with you.
We sincerely thank you for your patience and cooperation. If you have any questions regarding these requirements, please contact us at firstname.lastname@example.org.