Customer identification systems must provide procedures where the lender can take the information the customer has provided and verify its accuracy against third party sources.
For individuals, documentary verification might consist of government-issued, unexpired identification, which includes a photograph. Nondocumentary verification can consist of a bank statement report.
There are provisions in the regulation that allows loan issuers to obtain the customer's information from a third party. Obtaining the information is a condition of opening the account; failing to get the information is also a violation of the law.