This Bank Secrecy Act: CIP for Prepaid Cards online training course explores the Interagency Guidance on how to comply with the CIP requirements for prepaid cards. The Bank Secrecy Act requires banks to gather enough information on anyone who opens a new account at the bank in order to form a reasonable opinion that it knows the account holder’s true identity. To meet this requirement, banks must establish a written Customer Identification Program (CIP). Certain types of prepaid cards fall under the CIP because they create a formal banking relationship.
Course Learning Objectives
By taking this online Bank Secrecy Act: CIP for Prepaid Cards course, the user will learn:
- How to identify the various types of prepaid cards that are in the marketplace
- To know when they have a true customer and must apply the CIP rules to that person upon the purchase or opening of a prepaid card
- How to gather the required information from the customer to comply with the CIP requirements
Course Outline
This online Bank Secrecy Act: CIP for Prepaid Cards course is made up of the following sections:
- Prepaid Card Types
- Third Parties
- Identifying the Customer
Course Audience
This Bank Secrecy Act: CIP for Prepaid Cards online training course was designed for bank employees that handle the sale of prepaid cards at the bank.
If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.
| Course Language |
English |
| Length Range |
30 Minutes or Less |
| Length (Hours) |
0.25 |
| Course Features |
Video, Audio, Mobile, Accessible |
| Module Number(s) |
42012EN |
