Section 326 describes the CIP minimum requirements.

• A. Section 326
• B. Section 314a
• C. FATF
• D. FinCEN

Answer: (A)

CIP minimum requirements are defined by a specific provision of the USA PATRIOT Act, which requires financial institutions to implement a Customer Identification Program. This program mandates collecting and verifying essential identity information before or when establishing a customer relationship, maintaining records of the verification, and comparing the information against government lists to detect potential risks. That’s why this option is correct—the wording names the section that codifies these CIP requirements.

The other items refer to different AML topics: 314a deals with information sharing for investigations, FATF is an international standards body, and FinCEN is the agency that enforces and guides AML regulations but does not itself describe the CIP minimum requirements.