For years, the cornerstone of a strong Bank Secrecy Act/anti-money laundering (BSA/AML) program was its ability to detect and prevent the sale of illicit narcotics by identifying revenues derived from criminal enterprise. With the legalization of retail marijuana in Colorado and Washington, a cautious experiment...

The obligations placed upon the financially regulated sector are many and various, and most are governed by the risk-based approach, in which the risk of dealing with a particular person, company or transaction must be assessed, and the level of due diligence to be applied...