In Abrigo's recent industry survey of 300+ financial institutions, 33% stated they are currently providing services to CRBs or are considering banking CRBs. Whether or not your institution plans on banking cannabis- or marijuana-related businesses (CRBs/MRBs), our CRB solutions help you navigate the complexities of this ever-changing industry.
Detect CRBs/MRBs and Ensure Compliance
BSA/AML Solutions for Cannabis Banking
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Tracking CRBs/MRBs
Evaluating CRB banking for
your institution's risk profile.
Compliance While Banking CRBs
Although cannabis is now legal – either medically or recreationally – in the majority of states today, it remains illegal on a federal level, hamstringing cannabis-related businesses (CRBs) from accessing traditional financial accounts. As more states continue legalizing cannabis, the onus is on financial institutions to complete thorough due diligence and know their customers/members that cross state lines for services.
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Cannabis Banking Made Easy
Start-to-Finish Support for Cannabis Banking
Whether you're just deciding how your institution wants to handle CRBs, or you're ready to provide services to this industry, Abrigo is your partner during every step of this process. Learn how our systems and workflows for handling CRBs can help you reduce risk and keep regulators happy.
Abrigo Services
Establish Your CRB Policies
Is your institution deciding to bank, or not bank, CRBs/MRBs? Abrigo's Advisory Services experts help you create clear guidelines and identify gaps or potential areas of improvement to your program. Our team will work to ensure the proper mitigating controls are in place to help you stay in compliance.
Watchlist Scanning
CRB Due Diligence
With the laws and regulations regarding cannabis changing at the state level, do you really know your customers/members as well as you think?
Our CRB Watchlist Scanning, part of BAM+ Scan, allows you to use the power of NominoData to scan against state-licensed cannabis dispensaries, ensuring you truly know who you're banking.
CRB Scenarios
Ongoing Detection and Monitoring
Help ensure all transactions are legitimate by finding unidentified CRBs in both new and existing customers/members.
With BAM+ CRB Scenarios, your transactions will be scanned weekly against four different scenarios intended to alert you to potentially suspicious activity resulting from unidentified cannabis-related businesses.
Scalable Cannabis Banking
Safely Service CRBs and MRBs
Launch your cannabis banking program with software and regulatory expertise from Abrigo and Green Check Verified and take advantage of the new opportunities for growth related to banking cannabis-related businesses.
Reduce the risk of servicing CRBs if you move forward with providing financial services to this high-growth industry.
Abrigo is your steady partner in the ever-changing cannabis regulatory landscape.
Learn how abrigo can help
Software Solutions and Expert Assistance
The support you need to service
cannabis-related businesses.
cannabis-related businesses.
How are you actively monitoring to ensure you don't unknowingly have a CRB hidden in your customer base? From automated monitoring with BAM+ CRB Scenarios to identifying gaps or potential areas of improvements in your BSA/AML policies and procedures, we can help you stay in compliance.
BSA/AML Software
Abrigo’s BSA/AML solution BAM+ contains a wide variety of scenarios that allow you to detect, monitor, and investigate suspicious activity within your customer base. With BAM+, you'll benefit from better detection and faster resolution of the truly suspicious activity in your institution.
Resources
5 Myths to Banking Cannabis-Related Businesses (CRBs)
Blog - Stay up to date on Banking CRBs
Laws around CRBs are ever-changing. Whether you bank CRBs or not there are constant gray areas to address to remain compliant.
Determining Whether or Not to Bank CRBs
Checklist - Risk Assessment Questions
Learn aspects to consider and questions to ask if you are planning on banking CBD, hemp, or marijuana.
Banking Cannabis-Related Businesses and Managing Risk
Webinar - Key Terms and Best Practices
Gain insight on how to manage regulatory compliance and maintain a risk-based program, should your institution decide to bank CRBs.
