Business type

Jeweller

A jeweller’s case is a sale or purchase over the counter. Nothing is required of the customer until their cash and virtual-asset payments reach the reporting threshold, so the due diligence rules wait for that.

Who: Dealers in precious metals, stones and products, and bullion dealers
86 rules (25 shared with the other business types)
32 risk factors

For eAML customers. The full detail of every rule, with the rule numbers, the questions each form asks, and recordings and screenshots of the screens, is on the rules site: rule.eaml.com.au.

Checks, questions and documents

What eAML adds to each person’s card, stage by stage, and when.

33 rules

What raises risk

Each risk factor: what rates it, and what is asked for because of it.

32 risk factors 46 rules

After a higher rating

The extra steps once someone is rated medium or high risk.

4 rules

Good to know

Nothing is required of a customer until their payments reach the reporting threshold, which the AML/CTF Act sets for physical cash and virtual assets, and for bullion. Card, bank transfer, BPAY and PayPal payments do not count towards the cash threshold.
Payments are linked per customer, across all of the firm’s cases, so smaller payments by the same customer on different cases are added together.
When the threshold is reached, the customer’s due diligence starts: identity, screening, country, and the background questions. Source of funds and wealth, and adverse media, are asked only once the customer is rated high risk.
Repeated cash or virtual-asset payments just under the threshold within a short period rate the customer high risk, because that is how a sale is split to stay under it.

Designated services

A case is opened for one of these.

Buying or selling precious metals, stones or products for cash or virtual assets at or above the reporting threshold (table 2, item 2)
Buying or selling bullion (table 2, item 1)

Where a case goes

Each person on a case has a card with these stages, in this order. The names are the ones on the screen.

Customer identification — Who they are: the identity check, the ID document, proof of address. 8 rules
Beneficial ownership — Who owns or controls a company or trust, and how complicated the structure is. 3 rules
Source of funds and wealth — Evidence of where the money for a high-risk or large cash sale comes from. 2 rules
Customer due diligence — The background questions every customer is asked. 3 rules
Sanctions, PEP and adverse media — Watchlist screening and the country check. 4 rules
Risk scoring and tiering — The overall rating, the factors behind it, and the officer’s decisions. 9 rules
On the case — Checks on payments and the property, and the case-level banner. 4 rules

When eAML looks at its rules

When a case is opened	2 rules
When someone is added to the case	15 rules
When a person’s details change	1 rule
When owners or officers are recorded or changed	2 rules
When a bank account is added	1 rule
When a question is answered	27 rules
When a check result comes back	22 rules
When a payment is recorded	8 rules
When someone is rated medium or high risk	4 rules
When a suspicious matter report is made	1 rule