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How to Detect and Report Marijuana/Cannabis-Related Businesses

By some estimates, the cannabis business will be $80 billion by 2022. From 2013 (the Cole memo) until 2018, the federal government was tacitly supportive of some banking activity for cannabis businesses. To date, no financial institutions have been sanctioned for marijuana/cannabis-related banking. The more time passes without enforcement actions while states continue to “legalize” medical or recreational uses, the more politically and regulatorily unpalatable strict enforcement becomes. It is important for financial institutions to have proper detection and reporting of marijuana/cannabis-related businesses whether the financial institution chooses to bank or not bank marijuana/cannabis business.

The Cost of AML Compliance

The cost of AML compliance at financial institutions is rising at an enormous rate year over year and even today little is done to alleviate the pain. With such rising AML cost, AML managers and AML investigators need to be more efficient. Designed from the ground up, Guardian Analytics AML Evidence Lake™ empowers AML investigators to improve investigation efficiencies and AML managers to save time overseeing the Smart Rules, KYC Forms, and SAR/CTR Filings.

BEC is Getting More Sophisticated, Machine Learning to Detect BEC Fraud is Imperative Now

A weaponized ML model can only be fought with ML and behavioral analytics on both transactional and non-transactional data. As a pioneer in Machine Learning and Behavioral Analytics for Fraud Detection, Guardian Analytics continuously enhances its multi-channel fraud detection model algorithms to fight conventional and weaponized ML fraud schemes.

Prevent, Identify, and Uncover Micro-structuring with Guardian Analytics AML Solutions

Micro-structuring is a structuring scheme that is difficult for traditional AML rule-based systems to detect. Guardian Analytics AML solutions brings powerful new capabilities to detect and aid in the investigation of these complex money laundering schemes. Guardian Analytics AML solutions provides configurable KYC forms to prevent micro-structuring at the start, region-specific micro-structuring detection through flexible Smart Rules, and a Multi-channel Graph Link Analysis to detect the hidden relationship and movement of funds.

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