"On February 14, 2014, both the Department of Justice (the “Department”) and the Financial Crimes Enforcement Network (“FinCEN”) of the Department of the Treasury issued anti-money laundering (“AML”) guidance relating to financial crimes involving marijuana businesses. The Department’s guidance was intended to provide enforcement guidance to prosecutors, while the FinCEN guidance focused on describing new compliance obligations of banks and other financial institutions seeking to provide financial services to marijuana-related businesses. While the new guidance from both the Department and FinCEN expressly permits banks to engage in financial transactions involving marijuana proceeds, it is clear that the provision of financial services to the marijuana trade is fraught with considerable risk and significant compliance burdens."
The laws and regulations regarding banking and financing in the MRB industry are complex and frequently changing. This is where Green AML comes in, to help you and your business stay on the right side of these laws and regulations. Take a look below at some of the documents and articles regarding MRB governance.