customer identification program
- customer identification program
customer identification program ( CIP)
A proposed requirement under the Bank Secrecy Act that all financial institutions implement a written, risk-based customer identification program, maintain information used to verify identities and compare the names of new customers against government lists of known or suspected terrorists or terrorist organizations. The proposed rule would apply to all customers seeking to open new accounts. American Banker Glossary
Financial and business terms.
2012.
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