TOPIC: Marijuana Related Business

BSA/AML and Fraud Conference | ThinkBig: Fighting Financial Crime | Registration now open!

Registration for ThinkBig: Fighting Financial Crime (formerly BUG) is now open!

Join us April 19-22 in Austin, Texas for 2 1/2 days of networking with other BSA/AML and fraud professionals, engaging with regulatory and law enforcement representatives, and expanding your base of industry knowledge.

Early bird pricing ends on January 17!

Register here

    Fees for servicing CRBs?

    Employee at a bank ($669MUSA)
    Hello!

    With the USDA passing their interim rules regarding hemp growth, we are working on preparing a CRB policy that will govern our lending to hemp businesses, as well as address CBD dispensaries. Would anyone be willing to share the fees they charge these businesses? Obviously, due to the risk, they will be substantial, but we are trying to establish a baseline as a first step. 

    Thank you in advance. 

      Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us Dec 12

      December 12 at 12:30 PM - 01:30 PM EST
      End-to-End High-Risk Customer Management & CDD/EDD
      Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

      Register Now


      How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
       
      Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

      Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

      Register Now

        SAFE Banking Act White Paper

        Hello Everyone!  My esteemed counterpart at ICS (Ralf Kaiser - my fellow CRB Webinar host here on the network) and I had the opportunity to head to D.C. last week and meet with the Senators and Congressmen and Congresswomen who have made cannabis banking issues a main priority.  The attached white paper is a document we left with each office as we talked through how the Act should be amended in advance of heading to the Senate and we thought we would share it with you!

          Cannabis-Related Banking Explained | Earn 1.25 hours CAFP, CERP, CFSSP, and CRCM | Free Webinar

          With cannabis-related businesses still sitting at the top of bankers’ minds, senior consultants from Abrigo’s BSA/AML Advisory Services team tackle bankers’ burning questions about CRBs/MRBs. Join us as we discuss all things cannabis, from the current state of cannabis laws to what bankers will need to know for 2020 and beyond. No matter if you're planning on banking these businesses or want to stay far away from them, this session has information you might not have considered.
          Join this webinar to learn:
          • Updates on cannabis laws, both current and upcoming
          • How to successfully bank these customers 
          • Common CRB banking errors and how to avoid them
          • Q&A will answer audience-submitted questions both live and post-webinar
          This session is eligible for 1.25 hours CAFP, CERP, CFSSP, and CRCM

          Thursday, December 12, 2019
          2:00 PM ET / 1:00 PM CT
          Register now! 

            Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us Dec 12

            December 12 at 12:30 PM - 01:30 PM EST
            End-to-End High-Risk Customer Management & CDD/EDD
            Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers

            Register Now


            How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
             
            Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

            Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

            Register Now

              Infographic | Managing & Mitigating Risk - Challenges of CDD/EDD for Higher-Risk Customers

              Infographic
              Managing & Mitigating Risk
              Challenges of CDD/EDD for Higher-Risk Customers

              Download Now


              “Although any type of customer account is potentially vulnerable to money laundering or terrorist financing, by the nature of their business, occupation, or anticipated transaction activity, certain customers and entities may pose specific risks.”
              FFIEC BSA/AML Examination Manual

              This infographic provides an easy-to-understand overview of high-risk customers, including expectations from examiners for risk-based procedures, a visualization of progressive methods of due diligence and suspicious activity reporting, current challenges of conventional CDD/EDD approaches, and how to strengthen compliance with an end-to-end approach to high-risk customer management.

              Download Now

                eBook | How to Effectively Manage High-Risk Customers - Four Key Areas of Focus for your End-to-End CDD/EDD Process

                eBook
                How to Effectively Manage High-Risk Customers
                Four Key Areas of Focus for your End-to-End CDD/EDD Process

                Download Now


                The sheer number of high-risk customers that can be present at a financial institution makes ongoing assessment extremely challenging. Conventional approaches to high-risk customer management are largely manual, resulting in inefficient and ineffective processes.

                This eBook offers valuable insights and best practices to better manage and mitigate risks associated with high-risk customers, and strengthen your overall BSA/AML program.

                Download Now

                  Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us Oct. 30

                  October 30 at 12:30 PM - 01:30 PM EST
                  End-to-End High-Risk Customer Management & CDD/EDD
                  Segmentation, Stratification, Surveillance & EDD Workflows for High-Risk Customers


                  Register Now

                  How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.
                   
                  Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

                  Join us as we demonstrate how Verafin identifies and categorizes high-risk customers, and stratifies the risk within each category. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

                  Register Now

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

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

                    Download Now


                    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.

                    Download Now

                      Limited Time Offer! Cannabis Related Business Bundle

                      All 3 webinars for 1 price of $499! You save $148!

                      MRB has been a hot topic in all regulation lately. That it is now CRB (Cannabis Related Business) to cover all of the aspects involved with the different business options that affect how FI's can work with all the different vendors. Things have become even more confusing but never fear as Sterling Compliance and ICS are back to walk us through everything we need to know.

                      Sign Up Today!