If a customer has had fraud on thier accounts and it is being closed, and opening a new account under a new number, is it ok for a bank to use thier old account agreement with the new account. Can I just add a note to that agreement with the new information?

I would say the customer should receive a new agreement. They are entering into a new contract with the bank.

It's possible that some aspect of your account agreement and disclosure has changed since the original account was opened - our rule of thumb is we always re-disclose.