Our Services
We do not provide services to the cannabis industry.
West Coast AML Services was founded 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
CEO
Safe Harbor Financial
Denver, Colorado
$15+ billion in cannabis-related transactions
Testimonials
As an attorney that specializes in finance and banking, finding qualified professionals and experts to assist in my practice is ever-important. When dealing with regulatory issues and the hyper-scrutinized cannabis banking regulations, near-perfection is a prerequisite. West Coast AML Services and its principals are always my first call when it comes to these critical issues. Compliance for financial institutions has little room for error and West Coast AML Services understands this high standard and meets it.
West Coast AML Services is experienced, up-to-date, professional and easy to work with. This makes working with them a pleasure and their work-product reflects well on them, on me and my clients.
WCAMLS crafted a risk assessment that methodically described how Pacific Valley Bank intended to identify, evaluate and manage the various risks associated with banking the state-legal cannabis industry and indirect account holders. The firm's managing director, Terry Neeley, worked closely with my BSA Officer developing our corresponding policy and procedures and then effectively presented it to our Board. My bank is fortunate to have engaged WCAMLS rather than try to navigate the murky and challenging waters on our own.
West Coast AML Services has been instrumental in navigating the complex regulatory landscape of cannabis banking. They have a deep understanding of the risks involved and proper “ risk mitigation strategies. I have worked with West Coast across two financial institutions and their services have been a big factor in the success of the cannabis programs.
The West Coast AML Services team members have been true professionals and have always made themselves readily available for consultation. I would highly recommend West Coast AML Services to any financial institution that may have a cannabis program, is considering a cannabis program, or has decided not to offer services to the cannabis industry. A well-developed program is critical for the financial institution and West Coast AML Services is the best resource to assist in this task.
Since our initial work with West Coast AML Services in early 2018, we continue to improve our program in ways we didn’t know we could. From practical tips on cannabis business behaviors, to better monitoring programs, our documentation and evaluation of our cannabis businesses is better, more accurate and safer than ever before. West Coast AML Services’ insight is impeccable and straightforward. We are proud to have them on our compliance team.
The black market is out of control. California and Oregon members of Congress have requested that the federal government intervene. Illicit activity will continue and spread across the United States as more states legalize marijuana. Is your compliance program appropriately crafted to identify and mitigate Narco-slavery, marijuana-related public corruption, black-market sales by licensed-entities, and other emerging threats and enforcement priorities of the U.S. Department of Justice? While most financial institutions concentrate on the "Cole" priorities, West Coast AML Services' clients are properly focused on all marijuana-related criminal conduct.
Terry M. Neeley
Founder / Managing Director
Contact Business Operations
Let's talk about the many ways we can be of assistance to you.
