Rachel Louise Ensign of the Wall Street Journal reported on DSA’s analysis of Suspicious Activity Reports (SARs) regarding marijuana-related businesses.
“More than 1,700 suspicious activity reports using the phrase “marijuana limited” have been filed from 25 states since the agency of the U.S. Department of the Treasury in February advised financial institutions to use this term to report when they provided services to customers in the marijuana business.
The new data came from a Freedom of Information Act request by anti-money laundering experts Alison Jimenez, president of Dynamic Securities Analytics, and Steven Kemmerling, chief executive and founder of Enhanced Compliance Solutions. Fincen confirmed the response.”
Read the full article here.