What is the Customer Identification Program and its Requirements
Regulations require that all CIPs state how the financial institution intends to verify the information that accounts applicants have proffered. The identity verification procedures can include the use of documentary evidence, non-documentary evidence, or a mixture of the two.
Nick Oberheiden Financial Crimes Enforcement Network Fin Customer Identification Program Department Of The Treasury Bank Secrecy Act Patriot Act
Source: natlawreview.com