JVC Teams up With Industry Groups to Offer Discounted AML Kit
July 07, 05
The Jewelers Vigilance Committee (JVC) has teamed up with leading jewelry industry organizations, including the American Gem Society (AGS), American Gem Trade Association (AGTA), and The Jewelers Board of Trade (JBT), to offer the JVC’s USA PATRIOT Act Compliance Kit at a discount price to non-JVC members.
The kit aims to help jewelry businesses comply with anti-money laundering (AML) rules. JVC’s discount to associations is valid until January 1, 2006, the deadline for AML compliance.
Said Ruth Batson, executive director and CEO, AGS: “I can think of no other organization that is more equipped to provide our industry with the necessary tools to implement appropriate anti-money laundering programs.”
Cecilia Gardner, JVC’s executive director and general counsel, said the pack includes everything a business needs to develop a successful AML program, including templates and forms that can be customized, frequently asked questions and resources and checklists.
It also includes Ask the AML Expert, a new, secure, web-based service for JVC members and pack owners drafting a compliance program. The service answers questions on how to develop effective AML programs, specific transactions that may raise suspicions, assigning duties to a compliance officer, deciding which employees to train and designing the testing function.