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DEALERS IN PRECIOUS METALS AND STONES: INPUT SOUGHT ON RISK ASSESSMENT REPORTING PROPOSALS
- 20 November 2023
- Safety and Security
- SA Legal Academy
The Financial Intelligence Centre has called for input by 1 December 2023 on risk assessment reporting proposals affecting dealers in precious metals and stones.
According to the accompanying notice, the purpose of these proposals is to assist dealers in:
- understanding the money laundering and terrorism financing risks associated with their industry, and
- developing appropriate risk mitigation and management measures.
This is noting that, in December 2022, dealers in precious metals and stones were added to the list of accountable persons in Schedule 1 of the Financial Intelligence Centre Act, 2001.
Published by SA Legal Academy Policy Watch
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