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The Real Problem in the Cannabis Industry


The Real Problem in the Cannabis Industry

November 3, 2021

The Real Problem in the Cannabis Industry

The cannabis dispensary business is facing a real cash problem – having too much of it. As of 2021, 18 states along with Washington D.C. have legalized recreational marijuana for adults over 21. And an even more staggering number of 37 states have legalized marijuana for recreational and medicinal purposes. However, marijuana is still illegal at the federal level, meaning most banks and credit card processors refuse to service the industry in case they run afoul of money laundering laws.

Cannabis Industry Dispensaries handle mostly cash transactions

So how do you protect yourself as a small business operating primarily with cash transactions? Well, there’s a few ways that really make sense. Security systems as well as on-site security guards can be highly effective in deterring theft. Cannabis money safes are also a great solution to safeguard cash. But the real problem is when you accept cash, complete the transaction then take that cash to bank only to find out you’ve fallen victim to fraud.

According to the United States Department of Treasury, an estimated $70 million in counterfeit bills are in circulation, or approximately one counterfeit bill for every 10,000 in genuine currency. So, when operating a business that is predominantly fueled by cash transactions there is a high probability that you will encounter a fraudulent bill.

So how do you protect yourself from fraud? Dri Mark is the original solution provider for counterfeit detection solutions. Since launching the original counterfeit detector pen in 1991, Dri Mark has continued to produce new detection solutions to keep up with counterfeiting trends. Most notably, the Flash Test Detector which offers three tests in one, including an innovative ink sensor which tests bills quickly and conveniently. The Flash Test also includes a white light to check for water marks and a handy UV light which can be used to check government issued ID’s.

Cannabis Industry has too much cash

Trust the original and choose Dri Mark to safeguard your business.

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