CBC III: The SAR, Cyber Events, Marijuana, Hemp, and its Impacts

Date:

Aug 12, 2020

Location:

The next quarter CBC subject will discuss the issues regarding the BSA Suspicious Activity Report (SAR). We
will discuss the requirements and the form in detail. We will include all of the latest completion instructions.
Our primary focus for the day will be the “newer” issues surrounding the form - cyber event reporting, and your
future decision making Marijuana / Cannabis / Marijuana Related Businesses. We will discuss their impacts on the
form.

Although not yet legal in Wisconsin, banks need to consider the possibility of being asked to bank marijuana related
businesses (MRBs), as it probably is only a matter of time before the legalization becomes a reality. We will discuss
the decision process that needs to take place regarding these businesses, and the impact of these businesses may
have on your bank, both operationally and for BSA. 

While no longer illegal, we will also discuss issues that are important to review surrounding the propagation of hemp.
As hemp farming expands, we need to be prepared to handle the issues that have impacts for the bank, both for compliance and safety and soundness.

These subjects were suggested by several CBC members when we requested potential topics for 2020. 

See PDF Brochure for More Information