.thumbnail.jpg "At the 2010 IBAT Lending Compliance Summit")
BSA/AML, CIP: ID Verification Without DL
Printer-friendly VersionQuestion:
If a customer does not have a driver's license to verify ID, how else can we satisfy our CIP requirements?
Answer:
Nondocumentary methods! This can include comparing info from the customer with info from a consumer reporting agency, public database, or other source; checking references with other financial institutions; and obtaining a financial statement (which you could verify).