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According to the Basel Committee principles, which actions would make a customer identification program at a bank more robust? (Select Two.)
Correct Answer: B,D
A robust customer identification program is critical in preventing money laundering and financial crime. Option B (Correct): Understanding the nature and purpose of a customer's business helps banks assess the legitimacy of financial activity and identify potential risks. Option D (Correct): Understanding why a customer selects a particular bank provides insights into possible risk factors, such as jurisdictional concerns or access to certain financial instruments. Option A (Incorrect): Limiting online activities is not a standard CDD (Customer Due Diligence) measure. Risk-based controls are applied but do not involve blanket restrictions. Option C (Incorrect): While online verification is useful, in-person or government-sourced verification is preferred.