TOPIC: High Risk Accounts

Infographic | Marijuana-Related Businesses - The Risks & Rewards of Banking a Growing Industry

Infographic
Marijuana-Related Businesses
The Risks & Rewards of Banking a Growing Industry

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Marijuana-related businesses (MRBs) have been receiving a lot of attention lately. This growing industry is already worth $7 billion in the U.S., with that value projected to more than quadruple over the next 8 years, creating many questions for financial institutions around banking MRBs.

This infographic provides a handy introduction to the world of MRBs, quickly mapping marijuana law by state, examining the number of businesses that have been flagged as marijuana-related in the Verafin Cloud to date, and offering insight into identifying and assessing related compliance risk.

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    Demonstration | Applying AI to Fight Crime: Benefits and Use Cases for Machine Learning and RPA - Joins us Sept 25

    September 25 at 12:30 PM - 01:30 PM EST
    Applying AI to Fight Crime: Benefits and Use Cases for Machine Learning and RPA
    How to Increase Effectiveness and Efficiency of your Financial Crime Management Program


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    Encouraged by regulatory agencies, financial institutions are turning to solutions leveraging artificial intelligence to enhance their money laundering and fraud detection capabilities and reduce costs in their financial crime detection and management programs. 

    Join us for a demonstration of Verafin's Financial Crime Management platform, which leverages machine learning and Robotic Process Automation (RPA) to fight financial crime. We will review how artificial intelligence can automate routine tasks and reduce the volume of false positive alerts, saving time and resources for investigators while ensuring regulatory compliance. 

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      Discovered Unknown NGO

      Manager at a credit_union ($124MUSA)
      Does anyone have a letter, they wouldn't mind sharing, to send to a member when you discover their account, opened as a personal account, is being used as a NGO or Charity account and you'd like to get the proper documentation to continue servicing the account for them.

        Indirect MRBs

        Employee at a bank ($2.2BUSA)
        Good Morning, 
               Does anyone have a sample of their pre-on boarding guidelines for banking indirect MRB relationship (or tier II or III)? Everything I have seen is entirely focused on a direct (touch) relationship.


        Thank you.