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Anti-Money Laundering 101: A JVC Explainer of All Things AML July 10, 2020 (0 comments)


New York, NY--The Jewelers Vigilance Committrer (JVC) has announced its next live webinar, "Anti-Money Laundering 101: A JVC Explainer of All Things AML," taking place on July 23, 2020 from 2:00-2:45 Eastern Time

This important webinar will explain all things Anti-Money Laundering (AML)-related and is designed to help all members of our industry mitigate legal risks and implement legally compliant business practices. 

According to JVC, Almost all jewelry businesses in the United States must comply with Anti-Money Laundering laws and regulations. This includes foreign-based businesses who have a presence in the US. 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. JVC offers multiple services to help any jewelry business get into compliance with these regulations. JVC can also provide you a written guide or come to your business in person to help you set up or test your program.

In partnership with Jewelers Mutual Group, JVC has recently released JewelPAC™, a new online software solution for AML compliance. But what is AML, and who is required to comply? How can businesses ensure that they are designing an AML program that appropriately follows the rules and protects their supply chain? Tiffany Stevens, President & CEO and Sara Yood, Senior Counsel, will explain where the AML regulations originate, how to comply, and why JewelPAC is the timely solution for jewelry business AML compliance.

To register for "Anti-Money Laundering 101: A JVC Explainer of All Things AML," click here or follow the link below. The Webinar is Free to JVC members and $25 for non-members.

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