UK AML Laws Cast A Haze Over Legal Cannabis Investment
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...
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