CRB Monitor's Steve Kemmerling moderated this fast-paced webinar hosted by ACAMS webinars, which included a panel of keynote industry experts, including Zane Gilmer, Michael O'Neil and Dan Stipano, who helped to deep dive into the rapidly changing landscape involving marijuana. The legal status of marijuana has created compliance conflicts for financial institutions both large and small, including the recent legal developments and the implications of global cross-border transactions related to the movement of funds associated with marijuana sales. The webinar provided practical guidance on how to adapt to evolving marijuana-related compliance issues facing anti-financial crime professionals today.
Key Points Included
- Reviewing the latest laws and regulations related to legalized marijuana, cannabinoid products and industrial hemp, including the 2018 Farm Bill
- Formalizing periodic reviews of current policies, procedures, risk assessment, suspicious activity monitoring programs, CDD/EDD and High-Risk Customer programs to effectively manage the risks of the marijuana industry
- Understanding what marijuana legalization means for global cross-border transactions related to the movement of funds associated with marijuana sales