Webinar on Pawn AML Compliance. This session covers topics like AML program requirements, risk assessment requirements, Filing of 8300, SARs, more.

1. Dealers in Precious Metals and Pawn AML
Compliance
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com

2. Description
Although the AML regulations for the precious-metals industry do
specifically exempt pawnbrokers from complying with the regulations, the exemption was
put in because the government realized that the pawnbroker receives precious metals in
their business, but they are received as a pawn transaction. So the exemption covers the
pawnbroker only when you receive jewels, precious metals, or precious stones as a pawn
transaction and the customer has the ability to redeem those items at a later date.
However, if you receive jewels, precious metals, or precious stones (scrap jewellery) from the
public as a purchase that immediately gives the pawnbroker ownership to that merchandise
(usually for sale to a refinery or to place in your business for sale) and these purchases
exceed $50,000 in a year, these transactions are not exempt under the regulations. In other
words, these transactions (assuming they exceed $50,000 in a year) also define the
pawnbroker as a dealer in precious metals and therefore they are required to comply with
the AML regulations issued for precious-metals dealers, effective on January 1, 2006. We
have represented many pawnbrokers who are also defined as precious-metals dealers as they
have faced IRS compliance exams.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com

3. Why should you attend :
Pawn Brokers or dealers in precious
metals, who conducts these transactions,
which includes staff and management
who handles transactions within the
location, should attend this course for a
complete understanding of their
requirements.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com

4. Objectives
• Anti-Money Laundering (AML) Compliance Program for Pawnbrokers (for those
who do not meet the Dealer in Precious Metals requirements) – $149 per member
company/$25 per additional location
• AML Compliance Program for Dealers in Precious Metals (combined with Pawn) –
$229 per member company/$25 per additional location
• 8300 trade and business policies and procedures
• Identity Theft Red Flags policy and procedures
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com

5. How do this Webinar work ?
• Username and Password will be sent to you
24 hours prior to the webinar
• Presentation handouts in pdf format will be
mailed to you
• Login to the session using the username and
password provided to you
• Get answer to your queries through
interactive Q&A sessions via chat
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com

6. Connect with Us
www.onlinecompliancepanel.com
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com