Solution for Safely Banking the Cannabis Industry
HDCS, Inc., in partnership with RLR Management Consulting, provides comprehensive solutions to financial institutions that are interested in banking higher-risk depositors. Together, we serve as an extension of your compliance team, implementing policies and procedures, performing due diligence on cannabis related businesses (CRB’s), and providing ongoing monitoring and risk management.
We provide subject matter expertise and resources to mitigate risk, so you can realize the ROI.
Here’s How it Works
- Before you begin banking cannabis, we ensure you’re ready by providing:
- Comprehensive policies and procedures
- Training at the line, management, and board levels
- AML/BSA/KYC program evaluation
- ERM and Technology evaluation
- Program FinCEN guidelines verification
- Before you onboard a CRB, we ensure they are ready by providing:
- Comprehensive compliance audit, including an operational review, critical document review, background checks, and any necessary remediation
- Training for the CRB management team and staff
- Ongoing monitoring and inspection of each CRB account to remain compliant with current and future requirements
- We provide ongoing transaction monitoring and support
- Monthly reports for each of your CRB accounts
- Verify that CRB state tax filings match POS and deposits data
- Verify that CRB seed-to-sale information matches deposits data
- Quarterly program reporting for management and the board
- Support through all audits and examinations
We Become Part of Your Team
We’ll be there with you every step of the way at the line, management, and board levels. We are only successful when you are, so think of us as an extension of your team.