ACAMS Central Florida Chapter January 2026 Virtual Event: Introduction to Cannabis Banking

Overview

The presentation is an overview of cannabis banking, clarifying key terminology (distinguishing cannabis, marijuana, and hemp), outlining the types of cannabis-related businesses, and highlighting the unique regulatory and operational challenges these businesses face-such as restrictions on loans, cash-only tax payments, and limited access to financial services. It explains the importance of risk-based due diligence, the requirements for filing Suspicious Activity Reports (SARs) for marijuana-related activities, and the different expectations for hemp businesses. The document also emphasizes the need for robust compliance workflows, including ongoing monitoring and reporting, and notes that while recent federal actions signal a shift toward medical legitimacy, significant regulatory uncertainty and risks remain for financial institutions serving this sector.