CIP Rule on Verifying Customer Address

You are required to verify the information provided sufficiently to believe that you know the customer's true identity. That is not a requirement that you verify each of the four elements (name, identifying number, street address and date of birth). I suggest that your policy and procedures should determine what the bank will do and how far it will go in the verification process.

First published on BankersOnline.com 6/20/11