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Customer Identification Program
Customer Identification Program

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!!! Overview
[{$pagename}] is a [United States] requirement or [Regulation], where [Financial Institutions] need to verify the identity of individuals wishing to conduct [Financial] transactions with them and is a provision of the [United States PATRIOT Act].
More generally known as [Know Your Customer] the [CIP] requirement was implemented by [United States] [Regulations] in [2003|Year 2003] which require US [Financial Institutions] to develop a [CIP] appropriate to the size and type of its business. The [CIP] must be incorporated into the bank's [Bank Secrecy Act]/[Anti-Money Laundering] [Regulatory compliance] program, which is subject to approval by the [financial Institution]'s board of directors.
!! More Information
There might be more information for this subject on one of the following:
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This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop