The four senators from Colorado and Oregon — the first two states to remove legal restrictions on recreational marijuana — yesterday introduced a bill intended to help state-licensed marijuana businesses access banking services in states that permit marijuana use and sale.
The Financial Crimes Enforcement Network (FinCEN), in coordination with the Internal Revenue Service (IRS) and the U.S. Attorney’s Office for the Southern District of Florida (SDFL), issued a Geographic Targeting Order (GTO) for South Florida, requiring check cashers to ask for additional identifying information about customers cashing tax refund checks over $1,000.
FinCEN on March 10 identified Banca Privada d’Andorra (BPA) as a foreign financial institution of primary money laundering concern pursuant to Section 311 of the USA PATRIOT Act.