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Revenue Derive from Marijuana Related Activity?

Does due diligence require asking 'Does this revenue derive from marijuana related activity?'

by Jim Bedsole:

There is no specific requirement to ask this question. Whether you will include that question as part of your CDD will depend on your risk assessment and risk appetite.


by John Burnett:

I would imagine that banks located in any of the states that permit the sale of medical or recreational marijuana would be very likely to include that question. There might be some banks in states adjacent to marijuana sales states that ask the question, too.

First published on 12/16/2018

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