Verifying the Social Security Number (SSN) of our customers is a critical component of our identity validation process, ensuring that only authorized individuals can initiate and access accounts either in their own name or on behalf of their organization. This practice is mandated by Federal law, notably the USA PATRIOT Act, which imposes stringent obligations on financial institutions to acquire, verify, and record identifying information for every individual or entity opening an account. This requirement not only aligns with regulatory mandates but also bolsters the ability to combat financial crimes effectively.
In adherence to federal regulations, particularly those governing Registered Investment Advisors such as Infinite Giving, we are obligated to acquire, verify, and record pertinent information about our customers and any individuals acting on their behalf for all account openings. This procedural requirement is necessary for conducting due diligence, facilitating account openings, and enabling thorough investigations, should the need ever arise.
Hence, the necessity of soliciting a SSN stands as a customary and required procedure within the framework of US-based financial institutions when initiating account relationships. When initiating an account relationship with Infinite Giving, customers are required to furnish a range of identifying information, including their name, address, Social Security Number, and tax identification number. Additionally, customers may be requested to provide supplementary documentation such as a driver’s license or other valid forms of identification. It is imperative to note that this verification process is obligatory for all account openings, irrespective of whether the individual is an existing customer of Infinite Giving or not.
At Infinite Giving, safeguarding your personal data assumes paramount importance. In conjunction with the collection of SSNs, all information entrusted to Infinite Giving is rigorously protected under our stringent data security protocols.
Our commitment to securing your data encompasses several key measures:
Encryption:
All data transmitted to or from Infinite Giving undergoes encryption during transit, employing robust 256-bit encryption protocols. Our application endpoints and API are exclusively accessible via TLS/SSL, further fortifying data integrity. Moreover, data at rest is safeguarded through industry-standard AES-256 encryption algorithms, ensuring comprehensive protection throughout its lifecycle.
US Data Hosting and Storage:
The infrastructure supporting Infinite Giving's services and data repositories exclusively reside within Amazon Web Services (AWS) facilities located within the United States. This deliberate localization strategy ensures compliance with US data sovereignty regulations and bolsters the integrity and security of our data infrastructure.
Permissions and Authentication:
Access to customer data within Infinite Giving is meticulously controlled and restricted solely to authorized personnel necessitating such information for fulfilling their designated responsibilities. Operating within a zero-trust corporate network paradigm, Infinite Giving imposes stringent access controls and authentication mechanisms, mitigating the risk of unauthorized data access or breaches. Notably, there are no additional privileges conferred upon employees accessing corporate resources, thereby fostering a culture of accountability and data stewardship within our organization.
By adhering to these comprehensive security measures and regulatory imperatives, Infinite Giving not only upholds the highest standards of data protection and regulatory compliance but also instills trust and confidence among our esteemed clientele, safeguarding their financial interests and upholding the highest standards of ethical conduct and regulatory compliance.