Wednesday, 20 December 2023: The Financial Intelligence Centre (FIC) has issued a sector risk assessment report for dealers in precious metals and stones.
The sector risk assessment for dealers in precious metals and stones, provides information on the money laundering and terrorist financing risks facing these dealers when conducting business.
This sector has been included under high-value goods dealers, as described in item 20 of Schedule 1 of the Financial Intelligence Centre Act, 2001 (Act 38 of 2001), following the amendments to the Schedules that were implemented in December 2022.
The sector risk assessment serves to assist such dealers in understanding their money laundering and terrorism financing risks and introduce measures that can be adopted by the sector to mitigate and manage such risks.
For other queries, please contact the FIC’s compliance contact centre on 012 641 6000, select option 1, or submit a web query by clicking on: https://www.fic.gov.za/compliance-queries/
The Financial Intelligence Centre