Handle social security numbers and company identifiers
Should sensitive identifiers be saved for contacts?
The general principles of storing confidential information also work in FA: if the information is needed in e.g. different workflows or reporting, the information can be stored under customer information. If the information is not needed, it should not be stored in the system either.
Some examples of where social security numbers or company identifiers could be used:
Reporting: e.g. to a tax office or other party regulating investment activities.
Workflows: workflows that utilize sensitive customer identifiers, e.g. PEP or Sanction lists checks.
Where the information should be stored?
External ID field of the Contact should be used. These identifiers should not be stored in the Contact ID field since that field is used for various listings, possibly for naming reports / document directories, etc.
The Contact ID field should contain for example an internal customer ID or a sequential numbering from a CRM system.
