JVC Offers Anti-Money-Laundering Compliance Services

To help jewelry retailers, manufacturers, and others comply with anti-money- laundering (AML) rules, Jewelers Vigilance Committee has developed its USA PATRIOT Act Compliance Kit (PACK), an AML program that includes templates and forms that can be customized, frequently asked questions, resources, and checklists. JVC has also announced that it has established partnerships with several jewelry-industry associations, including American Gem Society, American Gem Trade Association, and The Jewelers Board of Trade to offer the kit to association members at a discount price, valid until Jan. 1, 2006.

JVC also provides targeted compliance services such as Ask the AML Expert, a secure, Web-based service whereby PACK owners and JVC members can ask Cecilia L. Gardner, JVC’s executive director and general counsel and PACK author, questions about how to develop effective AML programs or even about specific transactions that might raise concerns. Ask the AML Expert is free for PACK owners and JVC members. The service is confidential and TradeLock protected.

Additional compliance services will be offered by JVC. These include consultation in developing an AML program, education for relevant employees, and performing the required periodic testing of the program for effective implementation. These services will be fee based, depending on the nature of the service and the size of the company. Service contracts for consultation are included in the PACK.

Jewelers Mutual Insurance Co. funded part of the production of JVC’s Compliance Kit.

To purchase PACK, or for more information about it and other JVC offerings, visit www.jvclegal.org.