Bank Secrecy Act for Frontline Employees: 04. Customer Information Programs
Learning objectives
- Gain an understanding of customer information programs.
Course overview
As part of the USA PATRIOT Act, financial institutions are required to have customer identification programs, or CIPs. This helps prove customer identities, which is a key part in fighting money laundering schemes. In this course, we'll talk about what this means to you as a bank employee. We'll discuss the important distinction between customers and consumers, as they relate to BSA/AML. We'll go over who this rule applies to and the specific information you're required to collect to verify identification. We'll also look at specific recordkeeping rules for CIPs.
The individuals involved in the development and promotion of this course do not receive any compensation or financial benefits outside of their regular employment for their work on this course.
