Dealers in precious metals, stones and products are included in the Tranche 2 expansion of Australia’s AML/CTF obligations.
You may be in scope where you buy or sell precious metals, precious stones or precious products above the relevant thresholds.
Whether your business is a reporting entity depends on the designated services you provide — not on having an ABN or being based in Australia. Check AUSTRAC’s sector guidance, and seek professional advice for your situation.
For authoritative sector guidance, see AUSTRAC’s dealers guidance.
Dealers may be in scope where they buy or sell precious metals, precious stones or precious products above the relevant thresholds. Scope depends on the transactions you carry out; check AUSTRAC’s dealers guidance and seek professional advice.
Lex-AML is being built to help you set up an AML/CTF program tailored to dealing in high-value goods, run customer due diligence consistently at the point of sale, and maintain evidence and a review-ready audit trail for transactions.
Lex-AML can support DVS identity verification and Australian PEP checks where configured for an organisation, subject to provider setup and credentials. Your team remains responsible for reviewing the information and recording the decision.
Lex-AML supports compliance workflows and record keeping. It does not provide legal advice, does not guarantee compliance, and does not replace professional judgement or advice from a qualified AML/CTF adviser or legal professional.
Book a demo to see the current Lex-AML preview, discuss your sector workflow and understand how the product is being developed.