5 Things you need to know before your bank starts its Cannabis Program?
- How are you going to keep abreast of all the changing State and Local laws that affect Cannabis Related Businesses and their license status
- How are you going to vet, risk rate, and audit Cannabis Related Businesses to ensure they stay compliant?
- What is your process for identification of potential problems and documentation for regulators? How will you prove you have adequate controls in place?
- How do you intend on augmenting your BSA Program to ensure you train all line staff, management, executives and Board members?
- Do you have an adequate system of reporting that can provide executives and Board members real time information so that they can exercise proper oversight to the program?