Official Tells Jewelers About Anti-Money Laundering Act

U.S. Treasury Department official William Langford was the keynote speaker at the annual luncheon of the Jewelers Vigilance Committee in New York City on January 9 where more than 175 jewelry industry leaders gathered to welcome newly-elected president, Laurence R. Grunstein.

Langford, Senior Policy Advisor at the Financial Crimes Enforcement Network, US Treasury Department, spoke about the Patriot Act and how it will affect the jewelry industry.

The Act requires most businesses in the jewelry industry to institute anti-money laundering programs to detect and prevent exploitation by those with criminal intent.

The Jewelers Vigilance Committee, founded in 1917, is a not-for-profit trade association whose mission is to maintain the jewelry industry’s highest ethical standards. JVC offers precious metals testing, compliance monitoring and dispute arbitration, among many other services.

The JVC is considered the industry’s guardian of ethics and integrity, and is a resource for both trade and consumers.