•  In the case of cross-border customers involving third party certification/introduction of the customer, the third party is to be a regulated and supervised entity.
BIS central bankers’ speeches  5  CIP – Unique Customer Identification Code (UCIC) •  Need to ensure that customers do not have multiple identities within a bank, across the banking system and across the financial system  •  The UCIC will help banks to identify customers, track the facilities availed, monitor financial transactions in a holistic manner and enable banks to have a better approach to risk profiling of customers.