Description
Describes the two-step process to obtain types of identifying information from customers, and risk-based procedures to verify information. Explains the procedures to maintain records of the information used to verify identifying information. Explores different ways to disclose the CIP notice at account opening.
What You’ll Learn
Identify what constitutes an account and a customer under the CIP ruleExamine the actions to be taken in the two-step process of obtaining identifying information and verifying the identity of the customerIdentify the procedures for maintaining records of the information used to verify a person’s nameAdhere to established controls and review procedures for reliance on other partiesIdentify methods for handling the CIP notice at account opening
