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Weekly Roundup: Holder Says Marijuana’s Bank Guidelines on the Way, Italy Raids Eateries Laundering Mafia Funds, and More
printU.S. Attorney General Eric Holder said Thursday that federal officials will soon publish guidelines outlining when banks can serve legal marijuana dispensaries, The New York Times said Thursday. More Holder's comments follow disclosures in September that the department was discussing the issue with the Financial Crimes Enforcement Network. More An Amsterdam-based attorney representing clients of Rabobank and others will ask The Hague to order the criminal prosecution of the bank, its board members and employees believed to be involved in money laundering, Bloomberg reported. More The U.S. Treasury Department disclosed an anti-money laundering enforcement action against the bank earlier this...
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Singapore will bolster client identification requirements for exchangers of digital currency, Hong Kong's fifth richest man was sentenced to five years in jail for bribery and money laundering, and more, in this week's roundup.
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As federal and state officials continue down the road toward relaxing cannabis restrictions, banks have questions beyond simply whether they can accept marijuana dispensaries as clients. They wonder whether less direct financial ties to the businesses could be cause for concern too.
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Banks can choose whether to keep accounts for certain marijuana dispensaries and report limited information to federal officials when the businesses are unlikely targets of prosecutors, the U.S. Treasury Department said Friday.
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