Banking Solutions and Benefits

 

CANNATRAc IS dedicated to reducing the regulatory burden on financial institutions!

The need for the Cannabis Industry to have comprehensive banking privileges is critical to the safety and health of the community.  An all cash industry is dangerous, reckless and lacks the transparency for financial institutions to consider banking this Billion dollar industry. 

We developed a fully transparent vetting process, that Qualify, Verify and Satisfy regulatory compliance.  Our compliance procedures include Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Financial Crimes Enforcement Network (FinCEN), Cole Memo and other key policies. 

Some of the features and benefits of the CannaTrac System include:

  • Trace ALL financial transactions processed through our proprietary network, which are accessible in real-time and available to financial institution for oversight of their cannabis industry accounts 

  • Provide complete fiscal visibility and surveillance, CannaTrac's system is the safest, most efficient and effective way to generate reports that support requirements mandated by FDIC, Financial Crimes Enforcement Division (FinCEN) and the Office of the Comptroller of the Currency (OCC)

  • Financial Institutions will be able to acquire market share without increasing their overhead and regulatory risk assessment. Our processes will augment their internal routine and controls  

Financial Institutions that are currently or have a desire in the future to service accounts associated with legal medical or recreational cannabis related dollars should consider the CannaTrac system.  

 

Please call us at 844-CANNATRAC or email us at info@cannatrac.com to see how CannaTrac's systems, policies and procedures can assist your financial institution in satisfying regulatory requirements and compliance with the latest US Treasury FinCEN Guidelines, while increasing market share.