Description
20min | Credits: 0.5 CRCM, CAFP, CTFA, CSOP, CCTS
Delve into advanced customer identification scenarios, focusing on complex account openings for non-U.S. persons, covered corporations, partnerships, and trusts, and non-bank financial institutions. The course outlines required risk-based identification and verification procedures for these entities. Learn how to apply CIP standards in challenging situations to ensure compliance.
Audience: Bank employees whose responsibilities include opening accounts for individuals, businesses, and non-bank financial institutions.
Learning Objectives
After completing this course, students will be able to:
- Identify the types of identification and verification required when opening accounts for:
-Non-U.S. persons (individuals and businesses);
-Covered corporations, partnerships, and trusts; and
-Non-bank financial institutions, including money services businesses (MSBs).
This course is part of the ABA Frontline Compliance program.