UK AML Laws Cast A Haze Over Legal Cannabis Investment – Law360

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Law360, London (November 26, 2019, 11:52 PM GMT) — Changes to cannabis laws around the world have created a raft of business and investment opportunities, but financial institutions in the U.K. could find themselves on the wrong side of the country’s anti-money laundering laws by handling funds generated by legal cannabis sales.

The legal cannabis industry has become big business — the market in the U.S. is currently valued at approximately $10 billion — and investment is on the rise after Canada became the first G-7 country to legalize the production, distribution, sale and consumption of recreational cannabis in late 2018.

But investors are concerned that if they back businesses…

This article originally appeared here in https://www.law360.com/articles/1219321/uk-aml-laws-cast-a-haze-over-legal-cannabis-investment

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