For Dealers in Precious Metals and Stones

AML compliance, built around your business

High-value transactions can require additional scrutiny. AMLForms provides the structure and workflows to support your AML program, helping teams apply established requirements consistently across locations and clearly document the decisions made along the way.

WHERE RISK CAN SURFACE

Recognizing risk in high-value transactions

Certain transaction patterns, customer behaviours and payment activity can warrant closer attention. Recognizing these indicators helps teams determine when additional review or due diligence may be appropriate.

Unusual payment activity

Large cash purchases, unusual payment methods or transactions that are inconsistent with what is known about a customer may warrant closer review.

Structured transactions

Multiple transactions or payments that appear designed to avoid reporting or identification requirements can be an important risk indicator.

Third-party involvement

Transactions involving another person or entity may require closer attention when the relationship or reason for their involvement is unclear.

Unusual refunds or cancellations

Cancellations, refunds or requests to receive funds through a different payment method may warrant additional review when the activity appears unusual or lacks a clear explanation.

FROM RISK INDICATOR TO REVIEW

Build the right checks into the workflow

When a transaction requires closer attention, your team needs a clear process for what happens next. Put your AML policies into practice with structured workflows that guide information collection, due diligence and documented decision-making.

Identity verification when required
Guide customers through identity verification and capture the information and supporting records required by your compliance process.
Connected transaction activity
Bring related customer and transaction information together, giving your team greater context when activity requires closer review.
Third-party determinations
Capture the information needed to determine whether someone is acting on behalf of another person or entity and document the outcome.
Screening built into the process
Screen customers and related parties against sanctions, PEP and other relevant data as part of your established compliance workflow.
Decisions clearly documented
Give your team the information and context needed to make a risk-based decision, with the review, supporting documentation and decision history captured in one place.

SUPPORTING YOUR AML OBLIGATIONS

Make compliance part of the everyday workflow

Keep compliance activities connected and documented, giving your team greater visibility into reviews, investigations and the records that support your AML program.

Large cash transaction workflows

Support the collection, review and documentation required when transactions meet the criteria established by your AML program.

Connected transaction activity

Bring related customer and transaction activity together, helping teams identify patterns that may require additional review.

Ongoing screening

Keep customer screening connected to the compliance record, with changes and potential matches surfaced for review according to your established processes.

Suspicious transaction review

Guide investigations through a structured case management process, keeping supporting information, analysis and decisions together when activity warrants further review.

Structured recordkeeping

Keep customer information, verification records, transaction activity, supporting documents and decision history organized and accessible in one place.

AML program management

Centralize AML policies, procedures and supporting compliance documentation, helping teams manage updates and maintain a clear record of the program over time.

BUILT FOR THE WAY YOU WORK

AML compliance that fits your business

Your processes. Your teams. Our platform.

Configured around your AML program
Configure workflows around your policies, risk criteria and compliance processes rather than adapting your business to rigid software.
Consistent controls across transactions
Guide teams through the appropriate checks, reviews and documentation based on the requirements you establish.
Designed for the customer experience
Build compliance into your processes without creating unnecessary steps for customers or your team.
One connected platform
Bring verification, screening, case management and compliance records together, giving teams greater visibility across the customer relationship.
Built to support growth
Extend established policies and processes across teams and locations as your business grows.

How AMLForms applies risk

FAQs

What AML requirements apply to dealers in precious metals and stones?

Dealers in precious metals and stones (DPMS) must comply with AML regulations designed to prevent money laundering and terrorist financing. Key compliance requirements typically include:

Customer identity verification (KYC)
Customer due diligence (CDD)
Transaction monitoring and recordkeeping
Suspicious transaction reporting
Maintaining a documented AML compliance program

Meeting these obligations helps businesses remain compliant and reduce regulatory risk.

Why is customer due diligence important for precious metals dealers?

Customer due diligence (CDD) helps businesses verify customer identities, assess risk, and identify suspicious activity before completing high-value transactions. Effective CDD enables dealers to:

Identify high-risk customers
Detect suspicious buying patterns
Meet AML and FINTRAC compliance requirements
Reduce fraud and money laundering risks

How does AML software help precious metals and jewellery businesses?

AML software automates customer verification, sanctions screening, transaction monitoring, recordkeeping, and suspicious transaction reporting. This reduces manual work, improves compliance accuracy, and helps businesses meet regulatory requirements more efficiently.

What records should precious metals dealers maintain for AML compliance?

Businesses should maintain records of customer identification, transaction details, risk assessments, and suspicious transaction reports. Accurate recordkeeping supports regulatory audits and demonstrates compliance with AML obligations.

How does AMLForms support AML compliance for precious metals dealers?

AMLForms helps dealers in precious metals and stones automate customer due diligence, ongoing screening, transaction monitoring, recordkeeping, and reporting. The platform streamlines compliance workflows, helping businesses stay audit-ready while reducing compliance risk.

See AMLForms in Action

Book a personalized demo to see how AMLForms helps you onboard, verify, screen, and monitor customers with confidence.

Book A Demo

We streamline digital KYC and AML onboarding for regulated businesses. Our platform replaces manual processes with fast, compliant, and fully auditable workflows.