FinCEN Issues Guidance for Hemp-Related Business Customers
The Financial Crimes Enforcement Network (FinCEN) issued FIN-2020-G001, FinCEN Guidance Regarding Due Diligence Requirements under the Bank Secrecy Act for Hemp-Related Business Customers (the “Guidance”), to address questions related to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements for hemp- related business customers. The Guidance explains how financial institutions can conduct due diligence for hemp-related…
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