Luxury Goods

The luxury goods, precious metals, and jewelry industry is highly attractive to money launderers due to the high value, portability, and potential for anonymizing ownership of these items. Businesses in this sector, including retailers, dealers, and auction houses, must adhere to stringent AML/CTF regulations to prevent illicit activities and ensure transparency in transactions.

Compliance solution scenarios

1

Onboarding New Clients

A jewelry retailer is onboarding new clients and needs to ensure compliance with AML regulations.

how it works

2

Continuous Client Monitoring

The luxury goods dealer needs to perform regular compliance checks on existing clients to ensure ongoing adherence to AML regulations.

how it works

3

High-Value Transactions

A precious metals dealer encounters a high-value transaction and needs to perform enhanced due diligence (EDD).

how it works

4

Preparing for Regulatory Audits

A luxury goods auction house is preparing for an AML regulatory audit and needs to ensure all records are in order.

how it works

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