Banking marijuana-related and/or hemp-related businesses is becoming more and more common place. Avoid getting into hot water with examiners by ensuring you are up to speed on all the BSA/AML considerations and implications.
Banking marijuana-related businesses is complicated. In the eyes of the Federal Government, marijuana is still an illegal substance; however, it’s legalization by individual states whether for medical or recreational complicates this issue even further. Staying on top of the BSA/AML implications and understanding the potential risks and red flags is imperative to keep your examiners at bay.
What You’ll Learn