Free AML Compliance for Jewellers & Bullion Dealers

Why Jewellers & Bullion Dealers Are High-Risk

From July 1, 2026, AUSTRAC will start criminal enforcement of AML/CTF obligations for jewellers, bullion dealers, and precious metals businesses. If you sell, buy, or trade:

Gold, silver, platinum, or palladium bullion or coins
Jewellery worth $10,000+ per transaction
Precious stones (diamonds, rubies, sapphires, emeralds)
Watches containing precious metals (Rolex, Patek Philippe, etc.)

You are a reporting entity under Tranche 2. This means you must:

✅ Enrol with AUSTRAC before July 1, 2026
✅ Have a Board-approved AML/CTF Program
✅ Conduct customer due diligence (CDD) on all high-value customers
✅ Screen customers against sanctions lists
✅ Report suspicious transactions (SMRs, TTRs, IFTIs)
✅ Keep records for 7 years

Penalties for non-compliance: Up to $31.25 million per breach, plus criminal prosecution for directors. Ignorance is not a defence.

What You Get (100% Free)

🆔

Free Identity Verification

Biometric KYC + AML screening for every customer. Government ID verification + sanctions/PEP checks. Instant results.

Start KYC check →

📋

Free AML Program

Board-ready AML/CTF Program customised for precious metals businesses. Includes all 10 AUSTRAC-required sections.

Get program template →

⚠️

Free Risk Assessment

AI-powered ML/TF risk assessment for your business. 20-page report in 5 minutes. Required by AUSTRAC.

Generate risk assessment →

🎓

Free AML Training

Online courses for you and your staff. Covers Tranche 2 obligations, red flags, reporting requirements.

Start training →

Common Questions from Jewellers

Do I need to verify EVERY customer?

No. Only customers involved in "designated services" — transactions ≥$10,000 or multiple transactions totalling $10,000+ within 12 months. One-off $500 purchases don't require CDD.

What about cash transactions under $10,000?

Cash ≥$10,000 triggers mandatory reporting (Threshold Transaction Report). Even if you split it across multiple invoices. Use our free TTR tool to comply.

Do online sales count?

Yes. If you sell $10,000+ worth of jewellery or bullion online, you must verify the buyer's identity before delivery. Use our remote verification tool — clients complete KYC from their phone.

What if I buy gold from customers (scrap gold, estate jewellery)?

This is a designated service. You must verify the seller's identity, assess ML/TF risk, and keep records. Our CDD checklist covers this.

Can I use FreeAML forever?

Yes. Core tools (KYC checks, AML program, risk assessment, training) are free permanently. We charge for premium features like bulk processing and API access. See pricing.

🚩 Red Flags for Jewellers & Bullion Dealers

AUSTRAC requires you to report suspicious transactions. Watch for:

✓ Customer wants to pay $9,999 in cash (structuring to avoid $10k threshold)

✓ Customer buys large amounts of bullion with no interest in collectibility/aesthetics

✓ Customer sells estate jewellery/scrap gold with vague origin story

✓ Customer insists on cash-only, refuses to provide ID

✓ Purchase doesn't match customer's occupation/financial profile

✓ Customer requests delivery to a different country than their residence

✓ Multiple purchases just under $10k across several weeks

If you see these, file a Suspicious Matter Report (SMR) with AUSTRAC. Use our free SMR tool.

Free AML/CTF Compliance for Precious Metals Businesses