BSA/AML Examiner School - Case Study Oct 2023

LCB12/15

Transaction Testing Checklists

Checklist 4.2: CIP Account Review

Reviewed/Totall% 9/17/53% + 2 Loans 9/17/53% + 2 Loans 4/7/57% + 2 Loans 22/41/54% + 6 Loans

Sample Date

1 September 2015 2 October 2015 3 November 2015

Total

1

2

3

Did the institution provide adequate notice to the customers of its customer identification program? 31 CFR 1020.220(a)(5) Use the following section to review accounts opened by customers who were determined to be exempt from the CIP.

Y

Y

Y

NA NA NA

NA NA NA

Did the customer meet all of the requirements for the exemption?

6 1