Is marijuana-related business still high risk?

Answered by:

Question:

Do we file SARS on all marijuana-related business?

Answer:

Yes, this is still a Schedule I drug for DEA and we still file SARs as outlined in the 2014 Guidance. Some financial institutions only file SARS on Tier I high risk businesses that touch product and 100% of business is marijuana related. This needs to be spelled out in your procedures.

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