Northern Force Security Cannabis Security - Keeping the Stash Safe | Page 3

The problem is that in Canada even though cannabis has been legal since 2017 the major banks are
still reticent to do business with the cannabis industry. This is despite that in Canada for example
which has over 100 licensed cannabis producers and some start-up companies are considered to be
unicorns – business that are worth $1Billion dollars or more. These successful businesses still find it
hard to enter the international banking system.In the USA things are even worse as although 29 states
have legalized cannabis for medical use and 9 states have legalized cannabis for recreational use it is
still under Federal law classed as being illegal. The problem is that the flourishing cannabis industry is
finding banking and financial services are out-with their reach. This is because banks cannot take their
money nor do business with them under federal law - although they must still pay state and federal
taxes. Additionally, the large security companies cannot transport their product or their cash, again due
to Federal law restrictions, which has left these cash-rich businesses hugely attractive to criminal. This
in turn has created a flourishing cannabis security industry that aims to ensure companies are secure
and compliant with their state or countries security requirements.