Customer Identification Program Policy Update

Product Update Notification

Customer Identification Program Policy Update - 09/14/05

Bankpolicies.com is proud to announce the immediate availability of our revised Customer Identification Program Policy Template product.

The update to this product is in response to the FFIEC's recently released Bank Secrecy Act/Anti-Money Laundering Examination Manual which ensures consistent application of auditing efforts across all banking organizations regardless of size and lines of business. Although the manual is not intended to set new standards or impose additional requirements for regulatory compliance, it does provide narrative guidance and resource materials when evaluating a financial institution's BSA/AML compliance program.

http://www.occ.treas.gov/pubs1.htm

What's Revised

Topic 4 - Risk Management. This topic was enhanced to provide additional guidance and the inclusion of new account matrix tables.

Topic 8 - Procedures for Verification of Identity. This topic was expanded to include a new easier to reference accountholder matrix table by customer type (individual, family trust, sole proprietor, general or limited partnership, limited liability partnership, joint venture, limited liability company, or corporation). A new subtopic entitled "Signatories on Business Accounts" was added to provide procedures for branch operations staff to properly identify all signers on business accounts.

Topic 10 - Additional Account Opening Procedures. This topic was reduced to eliminate redundancy of subject matter covered under Topic 8.

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$175.00 - List Price

- or -

$50.00 - Update Price (applies only to clients who have previously purchased our Customer Identification Program Policy Template product)

If you have ordered this product within the past 30 days since 09/14/05 you are eligible to receive the Product Update at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the upgrade or list price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

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