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.
CRB Banking Compliance
Although cannabis and marijuana is now legal – either medically or recreationally – in the majority of states, it remains illegal at the federal level, hamstringing cannabis-related businesses (CRBs) and marijuana-related businesses (MRBs) from accessing traditional financial accounts and services. As more states legalize cannabis and marijuana, the onus is on financial institutions to complete thorough due diligence and know their customers/members that cross state lines for services.
CRB Banking Made Easy
Start-to-Finish support for
cannabis business banking.
Whether you're just deciding how your institution wants to handle CRBs, or you're ready to start banking marijuana businesses and 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.
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.
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.
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.
Solutions for CRB & MRB Banking
The support you need for
cannabis business banking.
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.
Abrigo’s AML Software 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 on MRB Banking &
Cannabis Business Banking
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.