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https://www.consumerfinance.gov/enforcement/actions/sterling-jewelers-inc/
Sterling Jewelers, Inc. JAN 16, 2019. The Consumer Financial Protection Bureau (Bureau) and the People of the State of New York today settled claims against Sterling Jewelers Inc. The Bureau’s and the State’s parallel investigations found that Sterling violated the Consumer Financial Protection Act of 2010 by opening store credit-card ...
http://www.jewelersresource.com/public/147.cfm?sd=15
After four years of tinkering, the US government has finalized the rules applicable to the jewelry trade under the Patriot Act. Virtually all of the rules were already known to the trade. At a meeting held at the New York Diamond Dealers Club, Jewelers Vigilance committee president and general counsel Cecilia Gardner and IRS Enforcement Officer Alex Basden detailed the process by which members of the …
https://www.jckonline.com/editorial-article/jewelers-must-comply-with-patriot-acts-aml-provisions-says-jvc/
Jun 03, 2005 · Jewelers ‘must’ comply with Patriot Act’s AML provisions, says JVC. Jewelers’ requirements for complying with the anti-money-laundering regulations of the revised Patriot Act were outlined by Ulla Wolff, assistant general counsel of the Jewelers Vigilance Committee, during a seminar on Thursday. “This isn’t optional,” she warned her audience.Estimated Reading Time: 3 mins
https://www.fincen.gov/sites/default/files/shared/looney.pdf
Rule be clarified. Sterling is a wholly owned subsidiary of Signet Group plc, the world’s largest specialty retail jeweler, with operations in both the United States and United Kingdom. As of February 1, 2003, Sterling operated 1,050 specialty retail jewelry stores in the United States. Section 352 of the USA Patriot Act sets forth minimum ...
https://orchid.ganoksin.com/t/patriot-act-for-jewelers/21152
Dec 04, 2003 · On NPR news last night I heard a chilling report. One of the aspects of the Patriot Act is to prevent money-laundering schemes from helping terrorists, and as purveyors of small, valuable, portable anonymous objects, jewelers are considered a target for regulation. Companies may have to set up schemes and appoint officers in charge of PA regulations. It’s not clear whether single-person ...
https://www.jckonline.com/magazine-article/jvc-most-small-jewelers-exempt-from-patriot-act/
Sep 01, 2005 · September 1, 2005 by Rob Bates. The U.S. Treasury Department issued its PATRIOT Act anti-money-laundering rules for the jewelry industry—and most smaller retail jewelers will be exempt from its obligations, the Jewelers Vigilance Committee has announced. The final rules still require dealers and covered retailers to set up compliance programs within six months.
https://www.fincen.gov/resources/statutes-regulations/usa-patriot-act
USA PATRIOT Act. The purpose of the USA PATRIOT Act is to deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and other purposes, some of which include: To strengthen U.S. measures to prevent, detect and prosecute international money laundering and financing of terrorism;
https://complyadvantage.com/knowledgebase/usa-patriot-act/
An AML Compliance Officer must be appointed to oversee the anti-money laundering program; Employees must receive ongoing anti-money laundering training; The anti-money laundering program must be independently audited regularly; There is no “one size fits all” solution to the USA Patriot Act anti-money laundering compliance requirements.
https://universalbackground.com/patriot-act/ofac-and-usa-patriot-act-compliance/
OFAC and USA Patriot Act Compliance. In October of 2001, Federal legislation titled Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism, better known as the USA Patriot Act, was approved by Congress. The law was designed to combat money laundering and terrorist financing, and also ...
https://privacyguidance.com/blog/example-of-a-noncompliance-action-for-the-usa-patriot-act-600000-fine/
Example of a Noncompliance Action for the USA PATRIOT Act: $600,000 Fine. I am concerned when I am at conferences and professional meetings and I hear presenters telling the attendees, from any industry, that there is really nothing that they need to do to address the requirements of the USA PATRIOT Act, and I’ve heard this communicated ...
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