American CBA LLC

Event Description

Fraud in cannabis banking presents unique challenges due to the high-risk nature of the industry and the cash-intensive operations of cannabis-related businesses (CRBs). As financial institutions navigate compliance with anti-money laundering (AML) regulations, they must also be vigilant against fraud schemes that exploit gaps in oversight, reporting, and due diligence. This webinar will explore common fraud risks in cannabis banking, including synthetic identities, structured transactions, and third-party payment fraud. Attendees will gain insights into the latest fraud trends, regulatory expectations, and risk mitigation strategies to protect their institutions.

High-risk fraud—including tax evasion, illicit product diversion, and financial misrepresentation—is an ever-growing concern in cannabis banking. Fraudsters leverage vulnerabilities in payments, lending, and merchant services to deceive financial institutions and circumvent regulatory controls. This session will provide actionable strategies to identify red flags, strengthen fraud detection programs, and enhance transaction monitoring for high-risk cannabis accounts. Industry experts will share best practices and real-world examples to help institutions effectively safeguard their cannabis banking programs.

Take-aways

• Common fraud schemes targeting cannabis banking, including synthetic identities and third-party fraud
• High-risk fraud tactics such as product diversion, tax evasion, and financial misrepresentation
• Red flags and early warning signs for detecting fraudulent cannabis transactions
• Regulatory expectations and compliance strategies to mitigate fraud risk
• Best practices for strengthening transaction monitoring and fraud prevention programs