CAFCA — Certified Anti-Financial Crime and Anti-Money Laundering Professional

{'correct_reasoning': "The CIP Rule (31 CFR 1020.220) requires that banks verify customer identity through documentary or non-documentary methods. When documentary verification cannot be fully completed (because the vendor does not cover the passport's country of issuance), the bank must employ alternative non-documentary methods. Simply recording a document number without verification does not satisfy the CIP Rule's verification requirement.", 'incorrect_reasoning': {'A': 'While visual inspection is part of documentary verification, the CIP Rule requires reasonable verification procedures; when the bank cannot electronically verify the document, alternative methods must be employed.', 'B': 'The CIP Rule does not prohibit accounts for customers from specific countries; it requires that identity be verified through available documentary or non-documentary methods.', 'D': 'Account tenure does not retroactively satisfy CIP verification requirements; the obligation exists at account opening.'}}