International CIP Compliance

International CIP Compliance

The signing of the USA PATRIOT Act on October 26, 2001 placed new guidelines on financial institutions, expanding upon previously enacted legislation designed to prevent the financing of terrorist activity and money laundering by domestic and foreign criminals. As a result, financial institutions must implement a Customer Identification Program (CIP) to (1) verify the identity of any person opening an account; (2) maintain records of the information used to verify the person’s identity; and (3) determine whether the person appears on any list of known or suspected terrorists or terrorist organizations.

Numerous online tools are available to assist in the identification of customers in the United States, but where do financial institutions turn for verification of international customers?

For over 35 years, NFC Worldwide Solutions has been conducting customer verification for clients seeking an international solution. We understand the complex policies and regulations of countries worldwide. Our knowledge and experience allow us to obtain the necessary information in a reliable, cost-efficient manner while ensuring best practices and regulatory compliance.



 

Contact Us

Address:240 Gibraltar Rd., Suite 150
 Horsham, PA, 19044, USA
Telephone: 215-657-0800
FAX: 215-657-7071
E-mail: info@nfcglobal.com
International Due Diligence   International Due Diligence