Effectively Banking Hemp, CBD Oil, Marijuana and Medical Marijuana Merchants
May 19, 2021
REGISTER NOWDescription:
Register by March 26th and take advantage of our Early Bird Pricing!
All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).
WHAT
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 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.
PROGRAM CONTENT
Upon completion of the program participants understand:
- 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?
This program is designed for BSA/AML Officers and Support Staff; Branch management; Customer Service Representatives; Tellers; Call Centers; Electronic Banking; Risk Management; Deposit Operations; Compliance; Internal Audit; Information Security and Executive Management.
*This program will start at 11:00 AM EDT, 10:00 AM CDT, 9:00 AM MDT, or 8:00 AM PDT
**Recording Available
This webinar will be recorded and sent to all registrants. You will receive links to the recording following the program. These recordings have unlimited viewings and are available for up to one year.
Register by March 26th and take advantage of our Early Bird Pricing!
If you are receiving an error message when attempting to register, we recommend using a modern browser (not Internet Explorer). Users have reported issues since Internet Explorer stopped being supported by Microsoft. For best results, attempt using Google Chrome, Microsoft Edge or Mozilla Firefox.
Presenters:
Terri Sands
Terri Sands, CAMS – Audit, AAP, CFE, At-Risk Adult Crime Tactics Specialist (ACT) is the founder of Secura Risk Management and leads the company in its strategic efforts to offer the most pressing and needed services in payments, BSA/AML, Cybersecurity and fraud. 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 consults and speaks frequently for regulatory and governmental agencies on topics including payments risk management and strategy, operational compliance, BSA/AML, financial crimes, operational risk management improvements and efficiencies. Terri has authored numerous publications and articles on payments risk management, fraud prevention, money-laundering prevention strategies, elder financial exploitation, and identity theft red flag compliance. Terri also serves as the Director of the Payments Risk Management for State Bank & Trust where she is responsible for payments risk management and payments strategy. Terri is an Advanced Certified Anti-Money Laundering Specialist (CAMS – Audit), a Certified Fraud Examiner (CFE), an At-Risk Adult Crime Tactics (ACT) Specialist and an Accredited ACH Professional (AAP).
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 served as the President of the Georgia Automated Clearing House Association (GACHA), a non-profit, regional payments association where she provided strategic direction for the association and its membership. 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. In addition, Terri led the efforts for training financial institutions throughout the Sixth District on the National Electronic Federal Tax Payment System (EFTPS).
May 19, 2021