Thursday, July 15, 2021
12:00 – 1:00 pm (Eastern Time)
11:00 – 12:00 pm (Central Time)
10:00 – 11:00 am (Mountain Time)
9:00 – 10:00 am (Pacific Time)
The terms cannabis, marijuana, and hemp are often used interchangeably but are significantly different and matter when there is interest in banking businesses that provide these services. Marijuana and hemp are both primary species of the cannabis plant, and cannabinoids (CBD) are derived from hemp.
When wishing to bank these types of merchants:
- How do you know the difference? What is required to bank medical marijuana merchants?
- How do you risk rate and approve the customer?
- What are red flag issues you should know prior to approving the customer?
- How do you monitor and what information needs to be documented in your risk assessment, ongoing reviews and your program document?
This cannabis banking webinar is perfect for any financial institution interested in banking these types of customers and are uncertain about the risks and for those financial institutions banking these types of customers and need clarification on best business practices for banking these merchants.
- Differentiating between Hemp, CBD Oil, Marijuana and Medical Marijuana Merchants
- How to effectively risk rate at account opening
- Recommendations for performing ongoing monitoring
- Documenting your BSA Program and Risk Assessment
Who Should Attend?
- BSA/AML Officers and Support Staff
- Branch management
- Customer Service Representatives
- Call Centers
- Electronic Banking
- Risk Management
- Deposit Operations
- Internal Audit
- Information Security
- Executive Management
Throughout her career, Terri has served as a leader in the payments and fraud prevention industry, providing education, risk management and compliance consulting and support services geared toward the specific needs of financial organizations. Terri is an Advanced Certified Anti-Money Laundering Specialist, an At-Risk Adult Crime Specialist and an Accredited ACH Professional. Prior to founding Secura, Terri served as co-founder of Payments Information Circle (PIC), a service organization providing payments industry education, auditing, consulting, resources, and support services to financial organizations throughout the country. Prior to her work at PIC, Terri also served as the President of GACHA, a non-profit, regional payments association where she provided strategic direction for financial institutions in the payments industry. Terri began her career in payments as a Senior Analyst with the Federal Reserve Bank of Atlanta where she provided training throughout the Sixth District and served on the Federal Reserve ACH Conversion Team that consolidated ACH Services for all branch locations in the Sixth District.
1.5 CPE Credits & 1.8 AAP Credits