On 6/29/2020, FinCEN issued guidance (FIN-2020-G001) to address BSA/AML requirements for hemp-related business customers. This guidance supplements the December 3, 2019 interagency statement on providing financial services to customers engaged in hemp-related businesses and focuses on the due diligence for financial institutions servicing hemp-related businesses. The guidance also explains the type of information and documentation financial institutions can collect from hemp-related businesses to comply with BSA/AML rules.
The entire FinCEN Guidance (FIN-2020-G001) can be found here.