Cannabis Banking Compliance Specialists
West Coast AML Services is a Bank Secrecy Act/Anti-Money Laundering risk management consultancy committed to the safety, soundness, and reputational integrity of financial institutions banking state-legal marijuana-related businesses.

Our Services

We do not provide services to the cannabis industry.


West Coast AML Services was created to manage the unique challenges of banking state-licensed marijuana-related businesses* (MRBs) and minimize the possibility of prosecution under federal money laundering statutes (18 U.S.C. §§ 1956 and 1957) and regulatory enforcement actions. We prepare risk assessments focused on U.S. Department of Justice enforcement priorities and create the structure, policies, procedures and controls of risk management programs within the context of BSA/AML compliance specific to marijuana-related businesses. We recommend enhancements to existing programs, tailor training for BSA officers and senior management, and advise the Board on oversight.

RISK ASSESSMENTS /
BOARD PRESENTATIONS

PROGRAM DEVELOPMENT

EXAMINATION SUPPORT

SPECIALIZED TRAINING

Meet Our Strategic Partners

  • Legal Counsel well-versed with the many risk issues associated with banking the marijuana industry.
  • Purpose Built Compliance Platforms that far exceed regulatory expectations and shield the integrity of the financial sector.
  • External Audit and Testing for pilot programs and portfolios.
  • Cash in Transit Services providers skilled with managing unique BSA reputational risks associated with MRB banking.

Identify, Evaluate and Manage Risks

Leadership


Our team brings a wealth of knowledge and expertise to the table with varying backgrounds in Federal law enforcement, banking, compliance and certifications including: Fraud Examiner (CFE), Public Accountant (CPA), and Forensic Interviewer (CFI).

West Coast AML Services has assisted us with our high-risk cannabis portfolio for years. They have provided invaluable insights, without which, we would not have understood how to successfully improve our risk mitigation. Training they provide is outside the mainstream BSA training available and has assisted us with being far more effective managing our high-risk portfolio.

Sundie Seefried

Safe Harbor Services
Partner Colorado Credit Union
Denver, Colorado

Annual cannabis-related deposits:
2019 $2.531 billion / P2020 $3.338 billion

Testimonials


For states such as California that have enacted laws to authorize the production, distribution and possession of marijuana, the Department of Justice expectation is that these states would establish strict regulatory schemes that protect the federal enforcement priorities. Based on assurances that those states will impose an appropriately strict regulatory system, the Department deferred its right to challenge their legalization laws. But if any of the stated harms do materialize—either despite a strict regulatory scheme or because of the lack of one—federal prosecutors will act aggressively to bring individual prosecutions focused on federal enforcement priorities and the Department may challenge the regulatory scheme themselves in these states.

Terry M. Neeley

Founder / Managing Director

Contact Business Operations


Let's talk about the many ways we can be of assistance to you.

info@wcamls.com