Customer Identification Program Policy
The purpose of this Customer Identification Program Policy Template is to address the Customer Identification Program (CIP) of a bank, credit union, or other type of financial institution in order to adhere to Section 326 of the USA Patriot Act regarding the requirement to implement reasonable procedures to verify the identity of any person.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Structure of Accountability – Topic 4
- Customer Due Diligence Program – Topic 5
- Minimum Identity Verification Standards – Topic 6
- Procedures for Verification of Identity – Topic 7
- Procedures for Lack of Identity Verification – Topic 8
- Rules for Special Accounts, Persons and Other Entities – Topic 9
- Additional Account Opening Procedures – Topic 10
- Comparison with Government Lists – Topic 11
- Information Sharing Procedures – Topic 12
- Customer Notice Procedures – Topic 13
- Audit Policy – Topic 14
- Staff Training – Topic 15
- Retention of Records – Topic 16
Includes the following form templates:
- BSA Certification for Beneficial Owners Form (2 pages)
- BSA CIP New Customer Information Sheet (1 page)
Recent updates to this product:
FFIEC Press Release – Federal and State Regulators Release Updates to BSA/AML Examination Manual
This Customer Identification Program Policy Template (approximately 79 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
NOTE: The complete contents of this product are also included in the Bank Secrecy Act Policy Template – Comprehensive Version.
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