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http://www.jewelersresource.com/public/147.cfm?sd=15
Patriot Act Now In Force. After four years of tinkering, the US government has finalized the rules applicable to the jewelry trade under the Patriot Act. Virtually all of the rules were already known to the trade. At a meeting held at the New York Diamond Dealers Club, Jewelers Vigilance committee president and general counsel Cecilia Gardner and IRS Enforcement Officer Alex Basden detailed the process …
https://www.jckonline.com/editorial-article/jewelers-must-comply-with-patriot-acts-aml-provisions-says-jvc/
Jun 03, 2005 · Jewelers ‘must’ comply with Patriot Act’s AML provisions, says JVC. Jewelers’ requirements for complying with the anti-money-laundering regulations of the revised Patriot Act were outlined by Ulla Wolff, assistant general counsel of the Jewelers Vigilance Committee, during a seminar on Thursday. “This isn’t optional,” she warned her audience.Estimated Reading Time: 3 mins
https://ucc4jewelers.com/patriot-act-compliance/
The Patriot Act requires all such Defined Dealers in the jewelry industry to have a comprehensive plan, with ongoing, continuing education, personnel training, regular, periodic review and updating of customer and supplier files and compliance with Federal reporting requirements.
https://www.fincen.gov/resources/statutes-regulations/guidance/frequently-asked-questions-0
May 03, 2005 · Interim Final Rule - Anti-Money Laundering Programs for Dealers in Precious Metals, Stones, or Jewels. The Financial Crimes Enforcement Network (“FinCEN”) is issuing these frequently asked questions (“FAQs”) regarding the application of its interim final rule implementing section 352 of the USA PATRIOT ACT and requiring dealers in precious metals, stones or jewels to establish anti …
https://jvclegal.org/about-aml/
This set of laws is sometimes referred to as “AML”, “PATRIOT Act”, or “KYC/Know Your Customer” rules. If you qualify as a dealer (you buy and sell $50,000 or more in precious metals, precious stones, or jewelry for which 50% of the value is derived from precious stones or precious metals), you must create and implement a comprehensive anti-money laundering program.Estimated Reading Time: 9 mins
https://www.jckonline.com/magazine-article/jvc-most-small-jewelers-exempt-from-patriot-act/
Sep 01, 2005 · September 1, 2005 by Rob Bates. The U.S. Treasury Department issued its PATRIOT Act anti-money-laundering rules for the jewelry industry—and most smaller retail jewelers will be exempt from its obligations, the Jewelers Vigilance Committee has announced. The final rules still require dealers and covered retailers to set up compliance programs within six months.
https://orchid.ganoksin.com/t/patriot-act-for-jewelers/21152
Dec 04, 2003 · of the Patriot Act is to prevent money-laundering schemes from helping terrorists, and as purveyors of small, valuable, portable anonymous objects, jewelers are …
https://www.jewelersmutual.com/clarity-blog/what-to-know-about-anti-money-laundering-certification-jewelers
Apr 03, 2018 · Amendments made by the USA PATRIOT Act in 2001 includes jewelers as part of the "financial system" because of the enormous value gems, jewelry, and precious metals carry. Given the possibility that dirty money from illegal activities could be converted to clean money through trading jewelry, there are no signs that these laws will be rolled back .
https://mordfin.com/wp-content/uploads/2019/12/jewelers_guide_to_aml_laws_final.pdf
Jewelers that ˚t this de˚nition are considered “dealers” within the framework established by the Patriot Act, and are required to implement an anti money laundering compliance program. This program would also need to address transactions involving their non-US sales and purchases, as well as those to the general public domestically.
https://www.m-s-lawyers.com/about-us/colorado-attorney-publications/patriot-act-impacts-small-businesses.html
Automobile dealerships, insurance companies and jewelers who buy and sell in excess of $50,000 also have responsibilities under the Patriot Act. Auto dealerships must search for and turn over any records relating to an account held by the individual or entity with the past year.
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