The Policy Center for Public Health and Safety announced that the company is based in Massachusetts Lighthouse Biz Solutionsa wholly owned subsidiary of GFA Federal Credit Unionis the premier financial institution on the east coast certified for excellence in US money banking protocols in the cannabis and hemp business.

The award is part of a financial services certification program overseen by the Policy Center for Public Health & Safety in conjunction with the state attorneys general endorsed by Safe Harbor Financial SHFS.

“The marijuana industry continues to grow in Massachusetts and it is important to have bank protections in place to curb illegal and criminal behavior. This is an important first step in working with compliant companies in the market,” he explained Karl Racineformer Attorney General for the District of Columbia and current board member of Safe Harbor Financial.

PH&S certification provides transparency in banking and financial services to ensure the security of the monetary system for institutions that market hemp and cannabis.

“The cannabis industry has been unbanked and underserved for years, often having negative public safety implications in communities where cannabis is legal. We are honored to receive such an award and appreciate the support and guidance we have received from Safe Harbor Financial over the years,” stated Lighthouse founder and past president of GFA Tina Sbrega.

Karen WhiteExecutive Director of the Attorneys General Alliance, stated: “Fundamental to market validation and the fight against money laundering is knowing which financial institutions are following procedures and protocols that are consistent with state and federal laws. Financial institutions and their insurers are seeking guidance to ‘bank’ the cannabis industry.

The overall certification model is accepted by state and federal agencies as the standard for compliance and implementation of overall risk mitigation strategies and focuses on: