Marijuana Update: On-Boarding, Payments, Monitoring & Schedule III Change Implications
Just when you thought you had marijuana banking down, along comes a proposed change from a Schedule I to a Schedule III drug. What are the implications? How will risk rating change? Have you developed new procedures? How will SARs be affected? How will regulatory scrutiny differ? Join this timely webinar and learn how to develop a top-to-bottom approach to this industry, including policy, procedures, and controls.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Identify high-, medium-, and low-risk marijuana businesses
- Develop a new account interview
- Understand what will and will not change if Schedule III changes happen
- Identify the challenging payment systems with this primarily cash business
- Monitor and report SARs on marijuana
WEBINAR DETAILS
This program will present a comprehensive, top-to-bottom approach to marijuana banking. You’ll learn how to use your state statutes to help develop documentation, licenses to be acquired and renewed, definitions, and policy. It will address how to develop checklists and file SARs as required for marijuana-related businesses and explain why you should separate out your procedures for hemp-related businesses. Learn who and what will be affected by marijuana rescheduling. This ever-evolving business still has its challenges, and those who handle these accounts have to be prepared for regulatory scrutiny.
WHO SHOULD ATTEND?
This informative session is designed for BSA officers, branch administration, branch operations staff, compliance professionals, management, and trainers.
