Entrepreneurs planning to launch a cannabis-related enterprise need to know that, although marijuana sales are perfectly legal in many states now, it is a business bombarded with various security risks, including the following.
The Cannabis Industry Is Largely Cash Only
An additional security factor involves the frequent need to operate on a cash basis since many banks fear running the risk of undergoing scrutiny for U.S. money laundering and other possible infractions until federal regulations catch up to marijuana legalization, notes Forbes. While more than 400 banks began working with cannabis businesses in 2018, there are still many cannabis dispensaries left to keeping large amounts of cash on their business’s premises.
The Role of Law Enforcement and Security Are Still Unclear When it Comes to Cannabis Businesses
Theft and damage to marijuana plants are among the foremost concerns that dispensary owners, warehouse storage facility operators and plant growers face. Even some of the safest regions in the safest states, such as Maine, are prone to threats of burglaries and robberies. Whether a bad character wants cash or product, they see independent growers with a healthy crop as easy prey. Sometimes these thieves bank on growers worrying about public perception, or that they may not receive fair treatment from law enforcement, based on the nature of their business.
In many cases and areas, law enforcement is doing its best to catch up on the public safety aspects of marijuana legalization, such as keeping people who are high off the road, which tends to push the security of cannabis establishments to the back burner for them. Therefore, this situation also leaves security responsibilities to solely up to cannabis dispensary owners.
Each State Features Its Own Unique Regulations That Require a Certain Degree of Security Compliance.
It probably comes as no surprise that various local and federal governmental bodies want to place regulations on cannabis access control and video surveillance measures, along with considerations like health and safety, product handling safety.
Each state has its own set of policies and regulations mandated by a local government entity, which is usually the respective State Department of Health, but some states have developed a specialized Marijuana Control Board that may address security concerns more directly.