If the Senate passes the Safe Banking Act, the risks of cash-only transactions for cannabis ... [+] businesses will lessen, but federal anti-money laundering regulations are also needed, one security expert says. gettyRyan Hale is the chief sales officer for cannabis security firm Operational Security Solutions (OSS). Enter the SAFE Banking Act (the Secure and Fair Enforcement Banking Act), which was just reintroduced in late March to the U..S. House and Senate, having previously passed the House on September 25. Not only does OSS offer cash security services but also audit services, security consulting and facility securement via electronic and physical security measures. “The SAFE Banking Act will provide expanded services to cannabis businesses,” Hale said.

Source: Forbes April 05, 2021 13:42 UTC