Customer Identification Program , CIP (Abkürzung)

The regulation sets out the minimum requirements for setting up a Customer Identification Program (CIP).

Collection and analysis of basic identity information (referred to in US regulations and practice as a "Customer Identification Program" or CIP)

In financial industries, verifying identity is often required by regulation known as Know Your Customer or Customer Identification Program (CIP).

The rules implementing the Bank Secrecy Act require a financial institution to implement a Customer Identification Program that includes procedures that enable it to form a reasonable belief that it knows the true identity of its customers.

The cards are now an acceptable form of government-issued photo documentation for purposes of verifying the customer's identity when opening an account under the Customer Identification Program ("CIP") requirements of the Bank Secrecy Act.

A Customer Identification Program (CIP) is a United States requirement, where financial institutions need to verify the identity of individuals wishing to conduct financial transactions with them and is a provision of the USA Patriot Act.