Medical marijuana may be legal in many states, but federally, it is still illegal. This means that banks run the risk of being charged with money laundering or other crimes for working with what the federal government considers an illicit activity. This creates a precarious situation where billions of dollars of state-licensed marijuana profits are handled almost exclusively in cash. What are the laws the set up this framework? What problems does this create? What is the solution?
Tag Archives: money laundering
On Aug. 10, 2015, the FBI filed a criminal complaint against United Food and Commercial Workers organizer Dan Rush, alleging that he took bribes and kickbacks and rigged the union organizing process. Rush has been a central figure in efforts by the UFCW’s Cannabis Division to organize legal marijuana workers.