Which item is NOT part of the Customer Identification Program (CIP)?

Which item is NOT part of the Customer Identification Program (CIP)?

• A. Name
• B. Address
• C. Date of Birth
• D. Occupation

Answer: (D)

CIP focuses on verifying a customer’s identity at account opening. To do this, institutions collect information that uniquely identifies a person: full name, date of birth, current residential address, and a government-issued identification number (such as an SSN or passport number). These elements are used together to confirm who the person is and to meet anti-money-laundering requirements. Occupation isn’t part of the CIP data set because it doesn’t help establish identity. It might be collected for risk profiling or customer due diligence later, but it isn’t a required CIP element.

CIP focuses on verifying a customer’s identity at account opening. To do this, institutions collect information that uniquely identifies a person: full name, date of birth, current residential address, and a government-issued identification number (such as an SSN or passport number). These elements are used together to confirm who the person is and to meet anti-money-laundering requirements. Occupation isn’t part of the CIP data set because it doesn’t help establish identity. It might be collected for risk profiling or customer due diligence later, but it isn’t a required CIP element.