Skip to content

CIP on DBA new customer

Answered by: 

Question: 
We have completed our CIP on the customer opening the account as a DBA, would we still need to complete a CIP on their business? If so how would we do that?
Answer: 

You cannot perform CIP on a DBA; a "DBA" name is the equivalent of a nickname. You identify the individual, corporation, partnership, LLC, etc., that is the customer. Then, you establish that the customer has the right to use the DBA name.

First published on BankersOnline.com 10/11/10

First published on 10/11/2010

Filed under: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics