 |
|
Identity Verification, Regulatory Compliance
and Enhanced Due Diligence Tools |
Software Solutions for Precious Metals and Gems Dealers
Precious Metal and Gem Dealers are at Risk
U.S. intelligence officials have confirmed al Qaeda's involvement in illegal conflict diamond trade. But al Qaeda serves as only one of numerous examples of the illegal misuse of precious gems and metals. Due primarily to their high value and ease of transportability, the use of diamonds and other precious gems and metals are increasingly attractive vehicles to fund fraudulent and criminal activity, both within and outside the U.S.
352 Interim Final Rule Issued
Interim Final Rule for USA PATRIOT Act Section 352 for certain dealers in precious metals, stones and jewels was issued in 2006. FinCEN is seeking public comment during this interim period. Compliance is expected by January 2006.
Businesses selling precious metals and gems are exposed to more risk than ever before - risks associated with identity theft and fraud, terrorism, and money laundering. USA PATRIOT Act and OFAC regulations are designed to reduce the incidence of the aforementioned crimes while helping to mitigate any associated risks.
What is OFAC and the USA PATRIOT Act? What practical steps can be taken to comply
with these and other government regulations while mitigating various forms of
risk? You may find Practical OFAC Principles and Practical USA PATRIOT Act Principles helpful in answering these
questions.
Compliance with these regulations is often very complex and time intensive. With advanced identity verification and watchlist screening, Bridger Insight™ XG is
designed to help you simplify the complex duty of compliance, while protecting
your company's most valuable asset... your good reputation. Bridger Insight XG is
our premier USA PATRIOT Act and OFAC compliance solution.
Learn more:
|
|
|
