According to the FFIEC, a KYC program should include:
Customer Identification Program (CIP): Identifies processes for verifying identities and establishing a reasonable belief that the identity is valid
Customer due diligence: Verifying customer identities and assessing the associated risks of doing business
Enhanced customer due diligence: Significant and comprehensive review of high-risk or large transactions and implementation of a suspicious activity-monitoring system to reduce risk to the institution