Green Check Verified | Peter Su

MJBulls: Cannabis investing and cannabis fundraising

Banks can do business with cannabis companies

Peter Su, the Senior Vice President of Green Check Verified joins Dan Humiston to explain how his company enables financial institutions to safely offer their services to legal cannabis companies. Peter discusses how the Bank Secrecy Act (BSA) works, which is essentially the last line of defense for banks and financial institutions to keep illicit funds out of the financial system. He simplifies the explanation and notes that proceeds from federally illegal businesses, such as cannabis, are considered money laundering. Despite the risk, the Financial Crimes Enforcement Network (FinCEN) released a set of guidelines in 2014 that provided a clear set of expectations for banks and credit unions that decide to bank with cannabis companies. Peter notes that the guidance has allowed a network of financial institutions to bank with cannabis companies that are comfortable following the guidelines

Produced by PodConx

MJBulls - https://podconx.com/podcasts/raising-cannabis-capital

Dan Humiston - https://podconx.com/guests/dan-humiston

Peter Su - https://www.linkedin.com/in/petersu/

Green Check Verified - https://greencheckverified.com/

Recorded on Squadcast - https://squadcast.fm/

Produced by PodConx

MJBulls - https://podconx.com/podcasts/raising-cannabis-capital

Dan Humiston - https://www.linkedin.com/in/humiston/

Sound Design - Jamie Humiston - https://www.linkedin.com/in/jamie-humiston-91718b1b3/

Recorded on Squadcast - https://squadcast.fm/