In July, the Canadian FIU, FINTRAC, published an Operational Brief containing Risks and Indicators for Dealers in Precious Metals and Stones. It sets out to provide information and guidance about the factors that expose individuals and entities (both retailers and wholesalers/suppliers) that are dealers in precious metals and stones to money laundering and terrorist financing risks. The brief also includes indicators to help such dealers determine when they should report a suspicious transaction to FINTRAC. Kenneth Rijock, in his blog, said that it contains a number of good lists, all of which have generic application to a number of industries, and he recommends one takes a look at it.
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