On April 24, 2020, the ACAMS Barbados Chapter held its first virtual learning event titled “Medicinal Marijuana: Prohibition to Mainstream—Anti-Money Laundering (AML) Opportunities and Risks.”

The event was opened with a welcome address by the chapter co-chair Cyralene Benskin-Murray. Following was a featured presentation delivered by Damian H. Cohall, Ph.D., senior lecturer in pharmacology and deputy dean—preclinical, the Faculty of Medical Sciences, University of the West Indies, Cave Hill Campus.

Dr. Cohall provided insight into areas including regional legislative and policy shifts, the stages within the medicinal cannabis industry, and addressing direct and indirect risk exposure of financial institutions to the cannabis industry.

The presentation ended with a meaningful discussion on marijuana issues and prohibition in different jurisdictions, the potential way forward in Barbados, the provision of compliant and secure financial services for cannabis and ancillary businesses, as well as what the regulatory expectations are in regard to banking marijuana businesses.

Abena Agard, director, communications, ACAMS Barbados Chapter