Compliance Support for Dealers in Precious Metals & Stones

Manage AML/CFT obligations and reduce the risks linked to cash sales, high-value goods, overseas suppliers, and cross-border transactions.

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Compliance Built Around Your Precious Metals Business

Trading in gold, jewellery, diamonds, and other high-value goods brings risks that are not always obvious at first.

A customer may want to split a large payment. Funds may arrive from someone who is not named on the invoice. A supplier may operate through several companies across different countries.

Each situation needs the right checks and a clear record of what your team decided. Vertex Compliance works with jewellery retailers, precious metal traders, stone dealers, wholesalers, refineries, importers, and exporters. We look at how your business handles customers, suppliers, payments, sanctions screening, unusual transactions, goAML reporting, and supporting records.

Key Compliance Challenges for Dealers in Precious Metals & Stones

Customer Due Diligence

Know who you are dealing with and, where a company is involved, who ultimately owns or controls it. If something raises concern, further checks may be needed before the transaction continues.

Sanctions and PEP Exposure

A customer may appear straightforward while an owner, supplier, or connected party presents a higher risk. Proper screening helps your team spot those connections and decide what to do next.

Transaction Monitoring

Unusual activity is not limited to large cash purchases. Split payments, third-party funds, rushed transactions, repeated buying and reselling, or unclear delivery arrangements may also require a closer look.

Risk Assessment

Your risk assessment should reflect the business you run today. Products, customers, suppliers, payment methods, trading locations, and delivery routes can all change the level of exposure.

Regulatory Reporting and Records

Good records should show what happened, what was checked, and why a decision was made. If suspicious activity is identified, the matter may need to be reported through goAML.

Compliance Services for Dealers in Precious Metals & Stones

DPMS AML/CFT Compliance

Build or strengthen an AML/CFT framework designed around the risks of trading in precious metals and stones. We review your business risk assessment, customer and beneficial-owner checks, source-of-funds procedures, cash-payment controls, sanctions screening, internal escalation, goAML reporting, and record keeping. Our support considers your products, customer types, suppliers, payment methods, trading locations, and cross-border activity so the framework reflects how your business operates.

High-Value Transaction Monitoring

High-value goods can be used to move or disguise funds, particularly when transactions involve cash, third parties, or unclear ownership. We help establish checks for large purchases, split payments, rapid resale, inconsistent valuations, unusual discounts, and transactions with no clear commercial purpose. Monitoring rules are shaped around transaction value, product type, payment method, customer history, and trading location, giving employees clearer guidance on when further review is needed.

Source of Goods and Supply Chain Checks

Understanding where precious metals and stones came from is essential when dealing with overseas suppliers, intermediaries, recycled materials, or second-hand goods. We review supplier due diligence, beneficial ownership, invoices, assay certificates, valuation documents, customs records, shipping details, and available proof of origin. We also check whether the goods, documents, payments, and parties involved tell a consistent story or reveal issues that should be investigated further.

Why Choose Vertex Compliance?

Built for Precious Metals Trading

Our work reflects the way jewellery retailers, refiners, wholesalers, traders, importers, and exporters handle goods, customers, suppliers, payments, and international transactions.

Stronger AML/CFT Controls

We check whether customer due diligence, sanctions screening, transaction monitoring, internal escalation, goAML reporting, and record keeping work properly when your team needs them.

Clearer Risk Oversight

See where the real pressure points sit across your customers, suppliers, products, payment methods, trading locations, and cross-border activity.

Ready for Regulatory Review

We help put policies, customer files, risk assessments, transaction records, and internal decisions in order so your team is not scrambling when questions are raised.

Frequently Asked Questions

That depends on where the concern lies. We can carry out a broad review of your AML/CFT framework or focus on one area, such as customer checks, supplier due diligence, sanctions screening, unusual transactions, goAML reporting, or record keeping. We also look beyond the written policy. A procedure may read well but still be difficult for staff to follow at the sales counter or during a high-value transaction. Those practical gaps are often where problems begin.

Yes. In fact, they need to be. A jewellery store dealing mainly with walk-in customers operates very differently from a refinery buying gold through overseas suppliers. Their controls should not be identical. We first look at what you sell, who you deal with, how payments are received, and which countries are involved. The scope of work is then built around those details.

Yes. There is no need to start again if parts of your current framework already work well. We can review your policies, risk assessment, customer files, sanctions checks, transaction records, escalation process, and reporting arrangements. The outcome is practical: what can stay, what needs updating, and what is missing. We also help establish which issues should be handled first rather than treating every finding as equally urgent.

Yes. Finding a gap is only useful if someone helps close it. After the review, we can revise policies, improve forms and checklists, strengthen transaction controls, organise records, and work with the employees responsible for applying the changes. The level of support is flexible. Some businesses need help with a specific issue, while others want assistance through the full remediation process.

Yes. We can review the information a regulator is likely to request and identify areas that may lead to further questions. This may include customer files, risk assessments, transaction records, training evidence, internal approvals, and reports submitted through goAML. We also help your team explain how controls work in practice. Having a policy is not enough if no one can show when it was followed or why a decision was made.

Yes. A cashier, salesperson, compliance officer, and senior manager do not need the same session. We adjust the content around what each team is expected to notice, record, approve, or escalate. The examples are drawn from precious metals and stones trading. They may include split cash payments, money received from an unrelated person, missing ownership details, unusual urgency, inconsistent invoices, or customers who resist routine checks.