AML/KYC Customer Verification Checklist
Complete for all new customer account openings to ensure regulatory compliance.
- Industry: Retail
- Frequency: Each new account
- Estimated Time: 15-20 minutes
- Role: Account Officer / Compliance Officer
- Total Items: 25
- Compliance: BSA/AML Regulations, USA PATRIOT Act, FFIEC BSA/AML Manual, FinCEN CDD Rule
Identity Verification
Verify customer identity documents.
- Government-issued ID collected (unexpired)?
- ID Type
- Photo matches customer?
- SSN/TIN collected and verified?
- Address verification document collected?
Beneficial Ownership (Business)
For business accounts, verify ownership.
- Beneficial owners (25%+) identified?
- Control person identified?
- Formation documents collected?
- EIN verified?
Risk Assessment
Complete customer risk assessment.
- OFAC/sanctions screening completed?
- PEP (Politically Exposed Person) check completed?
- Negative news search completed?
- Customer Risk Rating
Identity Document Verification
Verify customer identity documents per AML/KYC regulations
- Government-issued photo ID verified?
- ID document not expired?
- Proof of address document verified?
- Copies of ID documents filed securely?
Risk Assessment & Due Diligence
Perform customer risk assessment per BSA/AML requirements
- Customer risk level determined (Low/Medium/High)?
- PEP (Politically Exposed Person) screening completed?
- OFAC sanctions list checked?
- Adverse media screening completed?
Documentation & Compliance Sign-Off
Complete KYC documentation and compliance review
- All required CDD documents collected?
- Enhanced due diligence performed for high-risk?
- Compliance officer sign-off obtained?
- Compliance Officer Signature
Related Financial Services Checklists
- Anti-Money Laundering Compliance Review
- Know Your Customer (KYC) Compliance Checklist
- Annual Financial Regulatory Compliance Review
- Fraud Detection & Prevention Review
- IT Security Daily Checklist
- Cash Drawer Reconciliation
- Vault Opening Checklist
- Bank Branch Opening Procedures Checklist
Related Compliance Risk Checklists
- AML / KYC Daily Compliance Check - FREE Download
- Anti-Money Laundering Compliance Review - FREE Download
- Know Your Customer (KYC) Compliance Checklist - FREE Download
- Annual Financial Regulatory Compliance Review - FREE Download
- Fraud Detection & Prevention Review - FREE Download
- Investment Suitability Assessment Review - FREE Download
- Financial Institution Business Continuity Test - FREE Download
- Trust & Fiduciary Account Audit - FREE Download
- Consumer Complaint Management Review - FREE Download
- Third-Party Vendor Risk Assessment - FREE Download
Why Use This AML/KYC Customer Verification Checklist?
This aml/kyc customer verification checklist helps retail teams maintain compliance and operational excellence. Designed for account officer / compliance officer professionals, this checklist covers 25 critical inspection points across 6 sections. Recommended frequency: each new account.
Ensures compliance with BSA/AML Regulations, USA PATRIOT Act, FFIEC BSA/AML Manual, FinCEN CDD Rule. Regulatory-aligned for audit readiness and inspection documentation.
Frequently Asked Questions
What does the AML/KYC Customer Verification Checklist cover?
This checklist covers 25 inspection items across 6 sections: Identity Verification, Beneficial Ownership (Business), Risk Assessment, Identity Document Verification, Risk Assessment & Due Diligence, Documentation & Compliance Sign-Off. It is designed for retail operations and compliance.
How often should this checklist be completed?
This checklist should be completed each new account. Each completion takes approximately 15-20 minutes.
Who should use this AML/KYC Customer Verification Checklist?
This checklist is designed for Account Officer / Compliance Officer professionals in the retail industry. It can be used for self-assessments, team audits, and regulatory compliance documentation.
Can I download this checklist as a PDF?
Yes, this checklist is available as a free PDF download. You can also use it digitally in the POPProbe mobile app for real-time data capture, photo documentation, and automatic reporting.