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== Requirements ==
The CIP is intended to enable the bank to form a reasonable belief that it knows the true identity of each customer. The CIP must include [[new account opening]] procedures that specify the identifying information that will be obtained from each customer. It must also include reasonable and practical risk-based procedures for verifying the identity of each customer. Financial institutions should conduct a risk assessment of their customer base and product offerings, and in determining the risks, consider:
* The types of accounts offered
* The methods of opening accounts.
* The types of identifying information available
* The institution's size, ___location, and customer base
== References ==
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