FlexAccounts CIP / OFAC.
Financial institutions Customer Identification Program (CIP) and verify new customer’s name, address, date of birth and Social Security number.
Furthermore, the events of September 11, 2001 increased the diligent need for financial institutions to monitor transactions performed by or through them to better comply with the economic and trade sanctions enforced by the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury administers.
