10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Approximately thirty-three states and the District of Columbia have legalized marijuana in some form. This new industry has provided opportunities to entrepreneurs, and these new businesses need banking services. But with marijuana use and sale still illegal at the federal level and the repeal of the Cole Memo, your institution may be hesitant to serve marijuana-related businesses (MRBs). This webinar will dive into marijuana-related regulations and review FinCEN guidance to help you establish due diligence policies/procedures and develop MRB monitoring strategies to ensure compliance.
Attendance certificate provided to self-report CE credits.
- Understanding the types of MRBs
- FinCEN guidance and how to incorporate it into your process
- Risk rating MRBs based on tiers of business activity
- Suspicious activity reporting requirements for MRBs
- Initial and ongoing due diligence to detect and monitor MRB activity
- TAKE-AWAY TOOLKIT
- Sample BSA policy language
- Red flags for marijuana-related businesses
- MRB enhanced due diligence worksheet
- Employee training log
- Quiz to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This valuable session will benefit new accounts personnel, branch managers, operations staff, BSA officers, and compliance officers.
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NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.