Fentanyl in North America, FinCEN on CIP, OCC, and FATF on VASPs
AML Conversations
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Evolving Banking Regulations: TIN Collection and Modern Practices
This chapter explores the evolution of taxpayer identification number collection by banks since the Patriot Act's CIP rule, focusing on the transition from in-person verification to online practices. It also discusses a new FinCEN exception that permits banks to use third-party providers for TIN collection, highlighting adaptations to changing consumer behaviors.
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