Patriot Act Compliance

Section 326 Patriot Act Compliance

What is Section 326?

Currently there are billions of dollars being spent on Patriot
Act compliance. Just as the Y2K bug made businesses small and large alike
scurry around updating their systems so has the Patriot Act. Section 326 of
the USA PATRIOT Act requires financial institutions to develop a risk-based
approach to a Customer Identification Program (CIP).