BSA: Customer Identification Program - Is it time to Update?

Originally, you wrote your CIP in 2003. Is it time to change? If you have any of the questions below, we will explore changing your CIP in light of new systems, processes and technology in 2020.

Your program should shift with the new technologies and identifications in the market place. This program will look line-by-line at the regulation and point out avenues of change to explore in 2020.

Covered Topics

  • Line by line look at the regulation on Customer Identification Programs
  • What Information that must be obtained before an account is opened
  • Required Documentary and non-documentary verification
  • Should we add more types of identification? What types are available? 
  • The REAL ID
  • Do we keep CIP up to date?
  • How should we address online banking?
  • Is non-documentary verification enough?
  • Can we back off from our CIP of 2003 now that we have more systems in place?
  • On-going during the relationship
  • Working with sales and not against them
  • Integrating customer due diligence and enhanced due diligence

Who Should Attend?

BSA Officers, BSA Support personnel, Deposit Operations, Compliance Officer and Training.