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moov-io / customers

Customer registry supporting Know Your Customer (KYC), Customer Identification Program (CIP), and OFAC checks
https://moov.io
Apache License 2.0
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Support Customer Identification Program (CIP) #4

Open adamdecaf opened 5 years ago

adamdecaf commented 5 years ago

CIP is an enhancement over KYC for customer verification and identification by including the Social Social Number to run a credit check and further affirm a legitimate authorized customer in our system.

Notes: https://github.com/moov-io/customers/issues/9

wadearnold commented 5 years ago

In July 2016, FinCEN enacted new rules regarding beneficial ownership:[2] Financial institutions must collect from the legal entity customer the name, date of birth, address, and social security number or other government identification number (passport number or other similar information in the case of foreign persons) Customer Identification Program

adamdecaf commented 5 years ago

We store and encrypt the SSN when creating a customer.

There's a government service that might let us validate the SSN in code. https://www.ssa.gov/employer/ssnv.htm