dealers in precious metals and stones

Dealers in Precious Metals and Stones (DPMS) have limited AML obligations in Canada, which generally involve maintaining a program and applying specific procedures to large transactions. The risk of an examination by FINTRAC is relatively low - the greater pressure is that placed by the banks, payment services providers, and platforms that provide them services.

Our consultants routinely assist DPMS entities with the design of simple but thorough AML programs that satisfy regulators and financial services providers, as well as compliance effectiveness reviews.