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https://www.jckonline.com/editorial-article/jewelers-must-comply-with-patriot-acts-aml-provisions-says-jvc/
Section 352 of the revised Patriot Act is designed get the help of U.S. financial institutions—including “dealers in precious metals, stones and jewels”—in detecting and preventing funding of terrorism and criminal activities through money laundering.
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 …
https://jvclegal.org/about-aml/
While jewelry companies are not required by the U.S. Patriot Act to review the OFAC lists, a company will be subject to penalty if it engages in a prohibited transaction with a listed country, person or entity. Many businesses check the lists on a periodic basis as part of their anti-money laundering program.
https://www.jckonline.com/magazine-article/jvc-most-small-jewelers-exempt-from-patriot-act/
Oct 02, 2020 · 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.
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