This release describes BSA requirements for credit unions to verify the identities of those who open new accounts, exercise customer due diligence and apply enhanced due diligence to higher-risk members/customers.
Exhibits:
A – Procedure for Gathering Identity Information at Account Opening – Individuals (U.S. Citizen by Birth or Naturalization)
B – Procedure for Gathering Identity Information at Account Opening – Individuals (Not a U.S. Citizen)
C – Procedure for Gathering Identity Information at Account Opening – Organizations (Established or/Organized under U.S. Law)
D – Procedure for Non-Documentary Verification
E – CIP Guide
F – Frequently Asked Questions about CIP
G – CDD Risk Matrix for Individuals
H – CDD Risk Matrix for Organizations
I – FinCEN’s Frequently Asked Questions Regarding CDD