The cannabis industry has transformed over the last decade; once seen as taboo and thus operating underground and illegally, cannabis has become more accepted by mainstream society for its recreational and medical benefits. Many growers, distributors, retailers, and other industry players can now operate above ground, but not without constraints. The United States has not legalized cannabis federally, but it is legal in certain states.
However, even within legalized states, cannabis businesses operate within vague and confusing regulations regarding security and payments. Forbes reports that Visa announced that “the use of any Visa-branded product or network in any way (including digital gift card, Debit card, and cashless ATM) was not allowed for cannabis transactions.”
Not only are there confusions and challenges surrounding the handling of money for payments, but the very nature of the liquidity of cannabis products is a real cause for security concern.
Cannabis Businesses Are Highly Targeted Due To Liquidity
It’s no secret that cannabis was already popular prior to its legalization in certain states. From Bob Dylan to The Beatles, praises have been sung about cannabis-based products for all of their benefits including mood-elevation and pain relief.
The United States Centers for Disease Control and Prevention states on its website that “Marijuana is the most commonly used federally illegal drug in the United States; 48.2 million people, or about 18% of Americans, used it at least once in 2019.” The demand for cannabis has always been strong, and as such, physical locations or stores of goods or cash have become targeted to break-ins and burglary. The stolen goods can be easily resold for profit, as an underground black market still exists after having already existed long before regulations allowed for the selling and buying of cannabis in certain states. Aside from the goods themselves, many purchases are made with cash, which is stored within cash registers or vaults. Many businesses face huge problems depositing and securing the large inflows of cash—which is what burglars target—because banks in many states won’t service cannabis businesses.
Cannabis Businesses Seek Trained Experts For Security and Protection
To address the risks and challenges of operating a business in an industry that is still evolving in our societal and legal landscape, cannabis businesses have sought help from those with prior experience in working in law enforcement or the military. These security experts consult and advise on plans so that businesses can avoid living in limbo, anxiously held hostage by the possibility of any suddenly changed decision of federal or state legislators or banks. Cannabis businesses need security solutions that are compliant with the law, so as to protect not only their business assets and profits but also the lives of their employees and customers. Local law enforcement alone isn’t enough to rely upon to protect businesses in an industry that is so attractive for both violent and non-violent crimes. Prevention is always safer than post-mortem recourse.
If you have questions about security management and compliance for your cannabis business, you can give Cannabis Compliant Security Solutions a call today.
Cannabis Compliant Security Solutions
2269 Chestnut Street, #856 San Francisco, CA 94123
+01 925 922 1067