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October 17, 2014

Online data helps banks track pot sales

  • The idea behind posting the information online is to make it easy for banks or credit unions to discover red flags that might indicate illegal activity.
    • By GENE JOHNSON
    Associated Press

    Banking remains a thorny issue for legal marijuana businesses, but regulators in Washington state are trying to make it easier for financial institutions to track their pot-related customers.

    In the last few days, the state's Liquor Control Board has started posting the sales activity of licensed marijuana growers, sellers and processers online — along with any warnings or fines issued to businesses caught out of compliance. The data show that two of state's top-selling pot shops are in the southwest Washington city of Vancouver, just across the Columbia River from Portland.


     
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