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CDD requirements for hemp related businesses

Can we automatically classify all of our hemp farmers as low risk since hemp is legal in our state?

Not really. While recent FinCEN hemp guidance allows financial institutions to make a risk based decision on how much CDD or EDD to collect on their hemp customer, it does not absolve the financial institution of its responsibility to collect CDD on hemp related businesses in accordance with BSA regulatory requirements..


Learn more about Robin Guthridge’s

Managing Cannabis Risk webinar.

First published on 06/20/2021

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