BSA Basics: CIP and CDD Rules

Often called the fifth pillar of BSA, Customer Identification Programs and Customer Due Diligence are the way we are required to "know" our account holder. Your Board will learn how we gather identification and become familiar with pending issues on beneficial ownership. This is an excellent program for an update on what is new and happening in our industry as far as Bank Secrecy Act is concerned.  

Covered Topics

  • CIP - Minimum Requirements
  •  Identifying the customer: Information Required and Verification
  • Customer Due Diligence and Key Elements

Who Should Attend?

Anyone in the institution having compliance responsibilities - when you think about this, it could be just about anyone in the institution. This may include members of senior management, operations personnel, lending personnel, underwriters, customer service representatives, back-room personnel, and of course compliance officers, auditors, and attorneys, and anyone else in the institution that might benefit from this valuable information.

The biggest value of the series..."Ability to have someone explain in plain English what is going on." Christine G., Bank Fund Staff Federal Credit Union