Archived Webinar

Banking Cannabis-Related Businesses: Marijuana, Hemp and CBD

Regulatory and Due Diligence Considerations for BSA/AML and Risk Management Programs

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Originally Presented: August 17, 2021

The burgeoning U.S. cannabis industry is subject to a complex regulatory compliance landscape, with laws differing from coast to coast, at state and federal levels, and varying between cannabis-related businesses, CBD-related businesses, and hemp-related businesses. As profits flourish, financial institutions are facing significant regulatory uncertainty regarding the risks and rewards of banking cannabis-related businesses.

Join us for this webinar as Corey Lynch, a Product Expert at Verafin, discusses the intricacies of banking cannabis-related businesses. From informative industry perspectives to the SAFE Banking Act of 2021, stay informed of the importance of effective procedures for segmenting and periodically reviewing cannabis-related businesses with a risk-based approach that aligns with your institution’s risk appetite.

Highlights from this educational webinar include:

  • Exploring the background of the cannabis industry, how derisking impacts the U.S. financial system, and the potential BSA/AML risks of this high-risk customer category.
  • Reviewing recent industry guidance and compliance obligations surrounding cannabis-related businesses.
  •  Discussing the challenges of customer due diligence for high-risk customers, including segmentation, risk assessment and scoring, monitoring, and managing risk reviews for cannabis-related businesses.
  • Understanding the role of data and technology to improve customer due diligence, risk management and compliance processes for cannabis-related businesses.

Please note that accessing this recording does not qualify for a certificate of attendance or industry accreditation.

Tagged as...

  •   BSA/AML Compliance
  •   CDD/EDD
  •   Examination
  •   High-Risk Customer Management
  •   SARs