Daniel P. Stipano quoted in ACAMS article, “FinCEN lists methods for vetting hemp growers, bankers remain wary”
ACAMSDaniel P. Stipano
Daniel P. Stipano was quoted on June 29, 2020 in an ACAMS article, “FinCEN lists methods for vetting hemp growers, bankers remain wary,” which discussed FinCEN’s recent guidance that clarifies how compliance officers should monitor and screen hemp businesses due to the different risks they pose.
Stipano noted, “The guidance appears to set a baseline standard for conducting due diligence on hemp growers, but does not otherwise clarify how far banks must go to feel comfortable under regulatory scrutiny. There’s no safe harbor here. They’re not saying if you look at the attestation, you’re home free.”
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