Section 1: INTRODUCTION

1.1 This Guidance is issued by the Financial Intelligence Authority (FIA) pursuant to s. 20(d) of the Anti-Money Laundering Act, 2013. 1.2 The Anti- Money Laundering Act, 2013 (the "AMLA") identifies dealers in precious metals and precious stones (DPMS)1 as accountable persons and therefore imposes duties and responsibilities on them to prevent and detect money laundering and the financing of terrorism. 1.3 The purpose of this Guidance is to provide industry specific guidance for DPMS on their legal obligations for measures to deter and detect money laundering and the financing of terrorism activities. It provides clarity and an interpretation of the issues arising out of the AMLA and the AML regulations. This Guidance explains the most common situations under the specific laws and related regulations which impose Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) requirements. It is provided as general information only. It is not legal advice, and is not intended to replace the Acts and Regulations. 1.4 DPMS and other reporting entities should always refer directly to legislation when considering their statutory obligations. DPMS are responsible for continuously monitoring developments in the law and, where applicable, keeping their own internal procedures effective and up to date.