DSA’s Analysis of Suspicious Activity Reports cited in Huffington Post


Matt Ferner of the Huffington Post cited DSA’s analysis of Suspicious Activity Reports (SARs) in his article titled “Some Banks are Working with Marijuana Businesses, but they Remain Wary.”  DSA president, Alison Jimenez, was also quoted in the article. See an excerpt below:

 

DSA notes the total reports (SARs) filed add up to 3,341 — not 3,157, as reported by FinCEN. The reason for the discrepancy is unclear, but one possible explanation DSA offers is that banks can include more than one SAR classification in a single filing — i.e., both “priority” and “termination” could be used simultaneously when a marijuana business’ account is shut down.

Read the full article here.