Cost-effective, easily implementable compliance tools designed to fully address BSA AML/CFT regulatory requirements governing precious metals dealers, wholesalers, and bullion traders.
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Dealers in precious metals face strict federal regulation under Bank Secrecy Act (BSA) rules (31 CFR 1027.210). Under FinCEN regulations, dealers buying and selling covered goods (exceeding statutory thresholds) must maintain a written, risk-based AML/CFT program.
Major banks and supply chain wholesalers regularly demand proof of a fully functioning AML/CFT compliance program and a formal risk assessment process before extending banking services or wholesale credit lines.
Division One Compliance (D1C) delivers compliance products designed specifically for precious metals dealers, wholesalers, and bullion traders. Refined and proven in the industry since 2012, our precision tools establish the exact risk-based framework banking partners and federal regulators demand without creating unnecessary administrative burden for your business.
A risk assessment is the foundation of a compliance program. D1C evaluates your specific operational model—including wholesale sourcing, retail sales, cash transactions, bullion trading, customer types, and geographic footprint—to produce a risk assessment that will meaningfully guide your compliance efforts.
Concise and meaningful compliance policies, procedures, and internal controls designed to guide your daily operations and satisfy bank and regulatory reviewers. Our written programs replace overwhelming regulatory jargon with clear, implementable operational guidelines.
Generic AML training fails to address precious metals industry concerns (such as large cash payments, red-flag customer behavior, and trade-based money laundering risks). D1C provides online training designed explicitly for precious metals dealers and their personnel. Staff can complete our targeted modules online in about 15 minutes.
An effective BSA AML/CFT program requires periodic independent testing. D1C partners with SIRS AML Compliance Services, our provider of choice and premier partner for independent testing services.
When your bank’s compliance department or a regulator requires an independent audit of your AML/CFT program, SIRS delivers a collaborative, thorough review and actionable audit report to demonstrate complete regulatory compliance.
Learn More About SIRS Independent Testing Services for Precious Metals Dealers →Bank Reviews & BSA/AML Regulatory Compliance
Answer: Financial institutions and major wholesalers face immense regulatory pressure under FinCEN guidelines to monitor high-risk merchant relationships. Because precious metals and stones are highly liquid, banks require dealers to prove they maintain a compliant, risk-based AML program under 31 CFR 1027.210. Division One Compliance (D1C) provides dealers with custom risk assessments and tailored AML policy manuals that explicitly satisfy bank underwriting and wholesaler compliance departments, protecting your critical banking and supply chain relationships.
Answer: Under 31 CFR 1027, dealers buying and selling covered goods (exceeding regulatory thresholds) must maintain a written AML program based on a documented risk assessment, train personnel annually, and provide for independent testing. D1C delivers an all-in-one compliance suite designed specifically for precious metals dealers, replacing overwhelming regulatory jargon with clear, concise, and easily implementable compliance tools.
Answer: D1C evaluates your specific business model—including wholesale sourcing, retail sales, bullion trading, customer types, and geographic footprint—to document your unique money laundering and terrorist financing risks. Rather than handing you a generic template, D1C builds a personalized risk assessment that serves as the solid foundation for your customized AML policy manual and risk assessment process.
Answer: FinCEN mandates annual AML/CFT training for personnel who handle purchases, sales, or compliance duties in precious metals businesses. D1C provides concise, targeted training modules that address specific precious metals risks—such as large cash transactions, red-flag customer behaviors, and trade-based money laundering—completable in minutes while ensuring full regulatory compliance.
Answer: Together with SIRS AML Compliance Services (www.sirsco.com), D1C offers a seamless, end-to-end solution including custom risk assessments, concise policy manuals, staff training, and independent testing. We provide the precise documentation and independent audit verification required by bank risk departments, giving your financial institution total confidence in your business operations.
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