Bank Secrecy Act: Developing a Customer Identification Program

This Bank Secrecy Act: Developing a Customer Identification Program online training course explores the requirements of the Customer Identification Program and details on creating a CIP for the bank. The Bank Secrecy Act requires banks to gather enough information on anyone who opens a new account at the bank 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). The CIP must be appropriate for the bank’s size and risk profile and is typically incorporated into the bank’s Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program.

Course Learning Objectives

By taking this online Bank Secrecy Act: Developing a Customer Identification Program course, the user will learn:

• To understand the basic requirements of the CIP
• How to create a sound Customer Identification Program and procedures that comply with the BSA requirements
• To monitor and update the program for compliance

Course Outline

This online Bank Secrecy Act: Developing a Customer Identification Program course is made up of the following sections:

1. CIP Requirements
2. Risk-Based Procedures
3. Exemptions
4. Ongoing Monitoring

Course Audience

This Bank Secrecy Act: Developing a Customer Identification Program online training course was designed for bank employees that must comply with the BSA requirements.

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