Jewellery, Precious Metals and Stones

FATF in 2003 revised the 40 Recommendations, widening the categories of businesses covered by national laws to include dealers in precious metals and stones. They were included in a category labelled Designated Non-Financial Businesses and Professions (DNFBPs) along with casinos, real estate agents, lawyers, accountants, and trust and company service providers. As a result, the EU introduced its Third Directive in 2005 to encompass FATF's revised recommendations, and effective January 2006 the USA Patriot Act followed suit. Hong Kong responded in typical Hong Kong style by waiting until a damning report from FATF in 2008 regarding our low standards, and then issuing non-binding guidelines in the same year through the Narcotics Division that many in the industry do not even know or care about, because guidelines are recommended best practices that do not need to be followed.

The international community has begun piling on pressure with Third Party Payment Processors (TPPPs) such as Pay Pal increasing their scrutiny over jewellery companies and Financial Institutions such as banks de-risking and not even opening bank accounts. We at Parv Consulting can help by applying the guidelines in a practical manner to ensure a decent AML standard, thus securing the future of your company and allaying any concerns that third parties or institutions may have. Please see some of our services below and note that the services listed are not exhaustive so get in touch if you have any questions.

AML Policy Creation

Creating an AML policy can be a long, tedious, and an arduous process. It can be challenging to know what should be included, how it should be written, and how to make it look professional. We can create a bespoke policy customised for your business that is both practical and professional.

AML Policy Implementation

You have a money exchange business but not sure how to integrate an AML policy into your company? We understand the marketing and Information Technology aspect as well so let us help integrate a policy that is all encompassing, feasible, and future proofed for long term relevancy.

AML Policy Creation

Creating an AML policy can be a long, tedious, and an arduous process. It can be challenging to know what should be included, how it should be written, and how to make it look professional. We can create a bespoke policy customised for your business that is both practical and professional.

AML Policy Implementation

You have a money exchange business but not sure how to integrate an AML policy into your company? We understand the marketing and Information Technology aspect as well so let us help integrate a policy that is all encompassing, feasible, and future proofed for long term relevancy.

AML Policy Maintenance

Tired of maintaining the your company's AML function? Want to focus on your own day to day operations instead? We can help co-ordinate and manage your AML function so you can focus more on your own work. We also provide short term AML human resource relief for those who need it.

AML Policy Testing

If we are helping you maintain your AML function, we can conduct an internal AML compliance test. For others we can conduct an external AML audit. This can help identify deficiencies, provide recommendations for improvement, and satisfy external party requests and allay concerns.

AML Policy Maintenance

Tired of maintaining the your company's AML function? Want to focus on your own day to day operations instead? We can help co-ordinate and manage your AML function so you can focus more on your own work. We also provide short term AML human resource relief for those who need it.

AML Policy Testing

If we are helping you maintain your AML function, we can conduct an internal AML compliance test. For others we can conduct an external AML audit. This can help identify deficiencies, provide recommendations for improvement, and satisfy external party requests and allay concerns.

Other Related Services

Need to investigate a specific issue or customer? Any bank account related problems? Want us to provide any training? How about host an independent whistle blowing hotline? Have a compliance product that needs testing or requires some feedback on? Get in touch with any requests or questions you might have.

Other Related Services

Need to investigate a specific issue or customer? Any bank account related problems? Want us to provide any training? How about host an independent whistle blowing hotline? Have a compliance product that needs testing or requires some feedback on? Get in touch with any requests or questions you might have.

Want to become our customer?

1 If you need any help or assistance, we will first require you to fill in our questionnaire so we will have a better idea of what your operations, needs, and requirements are.


2 We will stop by for an on-site visit to get first hand knowledge and see the operations up-close. We will also perform checks on operation and compliance systems if required.


Our focus.

3 This is when we prepare a quote for our services, indicating what we can offer, the terms, and costs associated. If agreed, we will prepare a contract for your signature.