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#1996985 - 02/19/15 07:28 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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100 Club
Joined: Nov 2014
Posts: 173
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Just out of curiosity, did this inquiry derive from an exam/audit? We don't do any sort of scrub due to the due diligence conducted at account opening.
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CAMS
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#1997004 - 02/19/15 07:48 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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Power Poster
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
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I cannot imagine what the keywords could be, that would not also generate a ton of false positives. And how do you separate illegal from legal/medical? And what do you do with anyone that does business in Colorado, Washington State et al. And what's related? Pipes? All tobacco shops now high risk? A slippery slope. Hope that does not come up in our next exam! Ugh.
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#1997005 - 02/19/15 07:49 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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100 Club
Joined: Nov 2009
Posts: 179
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Who did this come from, internal or external audit or examiners?
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#1997065 - 02/19/15 09:19 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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Power Poster
Joined: Nov 2004
Posts: 6,840
Illinois
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Since the names of marijuana related businesses could be anything, all I can do is suggest that you start with the keywords "Cheech" and "Chong" and then go back to whomever made this ludicrous recommendation and ask them for a citation where it would be required and ask them what could possibly be gained.
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#1997070 - 02/19/15 09:22 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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10K Club
Joined: Aug 2001
Posts: 21,939
Next to Harvey
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Who made the recommendation? In writing? The exact wording?
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.
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#1997073 - 02/19/15 09:28 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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Member
Joined: Jan 2012
Posts: 95
Washington
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And define what you're looking for: members/customers who use the stuff and buy it at their legal retail/medical shop, or business owners as account holders?
Yikes, that is a big task.
Speaking as someone who deals with this on a regular basis over here in WA, the names these businesses come up with are quite creative, and the possibilities are endless. Good luck.
Higher power/utility bills, lots of garden supply purchases, security system monthly fees...those are the kinds of things that start us on the path to investigating. This could all vary by state though, and each state has different laws that govern marijuana.
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#1997273 - 02/20/15 04:27 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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10K Club
Joined: Aug 2001
Posts: 21,939
Next to Harvey
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Okay, without the specifics there's no real way to offer anything constructive except to say that you really need to get a new auditor; they are sending you on a fool's errand.
Hydroponics? Depends on what part of the country you are from. My understanding is that most growers just buy their equipment at Lowes, Home Depot, or some other garden supply store.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.
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#1997592 - 02/23/15 06:01 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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New Poster
Joined: Mar 2012
Posts: 2
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We are in the middle of the 'emerald triangle' in Mendocino County.... and our policy is that we will not bank marijuana-related businesses (or even individuals who work in the marijuana industry). We don't maintain any specific list of keywords to search. The growers generally don't admit that's what they do.... they come up with all sorts of occupations, but most are landscapers, permaculture designers, self-employed construction, student, etc. At account opening, we ask the nature of the business and expected transactions and conduct a site visit and we measure actual activity to the expected activity. And Google maps is quite helpful at times as a marijuana grow looks quite different than vineyards, apples, etc. We search on-line for dispensaries, and check weedmaps.com for local listings if we suspect marijuana involvement.
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#1998481 - 02/26/15 07:54 PM
Re: Marijuana-Related Activity and Keyword Searches
Cat Woman
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Gold Star
Joined: Apr 2009
Posts: 450
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Does anyone search their database of transactions for keywords to identify possible marijuana-related activity? If so, could you share your list? Or if anyone had thoughts on some good keywords to search, I'd appreciate suggestions! You should build a list of MRBs in your footprint and scrub it against your customer base.
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