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| What is Money Laundering ? - Topic 4 :Customer Due Dilligence | |
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Customer Due Dilligence
CIP requirements : the purpose of a CIP is to require the financil institution to implement reasonable procédure for :
- verify the identity of customers, - maintaining appropriate records of the information used to verify the person’s identity - determining whether the person appears on any list of known as suspected terrorist or terrorist organizations, - providing customers with appropriate notices.
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