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Why does Anedot need my Social Security Number?
Why does Anedot need my Social Security Number?
Updated over a week ago

Opening an Anedot fundraising account is just like opening a bank account.

As a registered payment facilitator sponsored by a regulated financial institution, Anedot is required to comply with beneficial ownership requirements issued by the Financial Crimes Enforcement Network (FinCEN).

Click here to view the FAQ published by FinCEN. The FAQ should answer any questions you may have surrounding the need to provide personal information to Anedot.

Please refer to Questions 11 and 18 for confirmation of the specific information required and note that only the Principal user (i.e. an individual with significant responsibility to control, manage, or direct the entity) needs to provide their full demographic information to Anedot to comply with the FinCEN requirement.

The Patriot Act (re-authorized in 2020) requires all financial institutions to ask for your Social Security number and confirm your identity to help prevent money laundering.

As always, we are here to help if you have any additional questions, you can contact us here.

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