Precious Metals & Stones Dealers

AML Compliance for Precious Metals and Stones Dealers (DPMS)

Dealers in precious metals and stones face unique financial crime risks. Canadian regulators strictly monitor high-value cash and asset transactions in this sector. At Fortis, we deliver specialized AML compliance consulting tailored specifically for your luxury business. We shield your operations from severe FINTRAC fines and reputational damage. Partner with us to build a solid regulatory foundation and protect your valuable inventory.

Essential Regulatory Pillars Under Canadian Law

Dealers in precious metals and stones face unique money laundering risks. To protect your business license, you must implement these mandatory federal rules:

Strict Customer Identification: You must thoroughly verify the identity of high-value corporate buyers and retail clients.
Large Cash Transaction Filings: Every luxury asset purchase exceeding $10,000 in cash requires a mandatory report to FINTRAC.
Suspicious Activity Monitoring: Retailers are legally obligated to detect and flag unusual buying patterns or structured payments.
Biennial Program Reviews: The law mandates an independent audit of your compliance framework every 24 months.

Premium Solutions for Asset Protection

Non-compliance in the luxury sector triggers massive public fines and immediate bank account closures. Fortis delivers tailored consulting services to secure your brand:

Custom Retail AML Manuals: We build specialized, robust policies designed for physical and digital high-value inventory management.
Turnkey FINTRAC Audit Preparation: Our expert investigators conduct comprehensive mock audits to ensure total regulatory exam readiness.
PEP and Sanction Screening: We help you implement automated daily checks to verify your buyers against global watchlists.
Compliance Program Training: Our team provides mandatory, documented AML training programs for your retail and wholesale staff.

Protect Your Luxury Asset Brand with Fortis

Non-compliance in the precious metals sector triggers massive public penalties. Do not risk your banking access or corporate integrity. Fortis designs elite, custom defensive strategies to keep your dealership fully protected.

Contact our specialized precious metals and stones compliance team today for an expert consultation.

KEY CONTACTS

Anna Maison

Principal, Risk Management and Technology 

Having held Chief Anti-Money Laundering Officer (CAMLO) and Chief Compliance Officer (CCO) roles both in Canada and internationally, Anna’s significant enterprise experience helps Canadian financial institutions (including credit unions), securities businesses, and mortgage lending businesses comprehensively and holistically manage AML compliance risk and anti-money laundering regulations.

Reach out to an AML Expert.