OCC 2004-3
OCC Bulletin

Subject:      Bank Secrecy Act/Anti-Money Laundering
Description:  Frequently Asked Questions: Final Customer Identification 
              Program Rule

Date:         January 8, 2004 

TO:  Chief Executive Officers and Compliance Officers of All National 
     Banks, Federal Branches and Agencies, Department and Division Heads, 
     and All Examining Personnel


On May 9, 2003, the Comptroller of the Currency, Federal Reserve Board, 
Federal Deposit Insurance Corporation, Financial Crimes Enforcement 
Network, Office of Thrift Supervision, National Credit Union 
Administration, and the Treasury Department published a joint final rule, 
31 CFR 103.121, titled “Customer Identification Programs for Banks, 
Savings Associations, Credit Unions and Certain Non-Federally Regulated 
Banks,” at 68 FR 25090.  This final rule implements section 326 of the 
USA PATRIOT Act of 2001 and requires banks, savings associations, credit 
unions, and certain nonfederally regulated banks to have a customer 
identification program (CIP).   

To facilitate compliance with the CIP rule, the agencies are jointly 
issuing the attached frequently asked questions (FAQs), which provide 
staff guidance on the application of the rule.  Staff of the agencies are 
continuing to discuss the application of the CIP rule and additional FAQs 
will be issued, as they are prepared.

Questions on the FAQs may be directed to your OCC supervisory office or 
the Compliance Division at (202) 874-4428.


___________________________________
Ann F. Jaedicke
Deputy Comptroller for Compliance


Attachment:  FAQs: Final Rule CIP Rule
	     http://www.occ.treas.gov/ftp/bulletin/2004-3a.pdf

	     For text of final rule, see:
	     http://www.occ.treas.gov/fr/fedregister/68fr25090.pdf