Banking Cannabis Part 2: Payments, Vendors and Monitoring

Description

How does your customer get clients to pay? How do we monitor accounts? What do we do with the cash? How to file SARs and monitor activity.

During this program, we will look at the duration of the relationship with the hemp and marijuana customer. What would make us exit a customer relationship and how do we do it?

What You'll Learn

• Filing of SARs and special issues
• Closing of accounts
• Payment mechanisms: ATMs, cashless ATMs, mobile apps, closed-loop debit cards
• Cash: Handling and movement of cash
• Monitoring accounts for shrinkage and theft
• Third-party vendor vetting and relationships

Who Should Attend

This session is ideal for AML/CFT/BSA officers and staff, security, deposit operations, deposit and loan compliance, and new account representatives.