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Cannabis businesses face unique risks and challenges, and insurance slowly gaining its footing on how to properly insure this budding industry.

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All companies face cybersecurity threats, but the legalized cannabis industry’s storage of personally identifiable information and reliance on seed-to-sale tracking software can place it firmly within hackers’ crosshairs.

To be sure, despite currently being prohibited from storing cash in banks, some cannabis entities do process valuable personally identifiable information (PII).

“Just because there’s more physical cash than electronic transactions, doesn’t necessarily make these companies less of a target for hackers,” wrote Robinson & Cole associate and data privacy and cybersecurity associate Kathryn Rattigan in an email. “Most of the point-of-sale systems automatically report to the state’s compliance tracking system, which might include the individual’s name, birth date and contact information based on the scanning of a driver’s license or state-issued ID card.”

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