Comprehensive, integrated compliance solutions protecting precious metals, stone, and jewelry dealers from regulatory risks since 2012.
Get Started TodaySince 2012, SIRS has been a trusted partner for precious metals and jewelry businesses seeking to navigate the complexities of BSA AML/CFT compliance. We offer complete, integrated solutions—including ML/TF risk assessments, written policy manuals, annual training, and independent testing—built to keep your business secure, compliant, and focused on growth.
FinCEN regulation 31 CFR 1027.210(b)(1) states that a precious metals or jewelry dealer's BSA AML/CFT program must be based upon the firm's assessment of the money laundering and terrorist financing risks associated with its products and services.
Acting in partnership with Division One Compliance, LLC (D1C), SIRS will provide you with a money laundering/terrorist financing risk assessment. This assessment will include an evaluation of your products, services, customers, supply chains, and geographic locations to build a solid risk-based foundation for your entire compliance framework.
Under 31 CFR 1027.210(a), each dealer in covered goods must develop and implement a written anti-money laundering and countering the financing of terrorism program reasonably designed to prevent facilitation of illegal financial activities.
Distributed by SIRS and proprietary to Division One Compliance, LLC, our written BSA AML/CFT Compliance Program is clear, concise (typically less than 14 pages), indexed, and tailored to your specific business dealings for effortless integration.
As required by 31 CFR 1027.210(b)(3), each dealer must ensure that its personnel complete annual BSA AML/CFT training.
Prepared and owned by Division One Compliance, LLC (D1C)* and distributed by SIRS, this concise and engaging online course addresses relevant regulatory requirements and industry-specific risks. Personnel can complete the course in about 15 minutes, and completion certificates are awarded automatically for recordkeeping.
FinCEN regulation 31 CFR 1027.210(b)(4) requires each precious metals and jewelry dealer to provide for independent testing of its BSA AML/CFT program.
Our testing process is collaborative and thorough. We review written policies, examine transaction records, assist in resolving identified gaps prior to audit finalization, and deliver a detailed final report with actionable recommendations to strengthen your program.
We believe in clarity and trust. Our comprehensive BSA AML/CFT compliance solutions are competitively priced to fit your business.
SIRS acts as your dedicated consultant and independent testing auditor. To provide you with the most easily implementable compliance tools available, SIRS is an authorized distributor of proprietary BSA AML/CFT compliance products engineered by Division One Compliance, LLC.
Since 2012, SIRS has provided specialized BSA AML/CFT compliance services, including ML/TF risk assessments, for precious metals and jewelry dealers. Acting in partnership with Division One Compliance, LLC, we evaluate supply chains, retail vs. wholesale operations, and cash transaction volumes to ensure compliance with 31 CFR 1027.210(b)(1).
Under 31 CFR 1027.100(b), a person or business qualifies as a dealer if they purchase and sell more than $50,000 in covered goods (precious metals, jewels, or finished goods deriving 50%+ of value from covered materials) during the prior calendar or tax year. Certain exemptions apply for retailers purchasing exclusively from domestic regulated dealers or licensed pawnbrokers operating within pawn transactions.
Independent testing includes reviewing your written BSA AML/CFT program, examining customer identification practices, verifying Form 8300 cash transaction report compliance, checking OFAC screening records, and evaluating employee training records. SIRS provides a thorough examination report complete with findings and corrective action steps.
Our online training course is specifically tailored to precious metals and jewelry dealings and can be completed in about 15 minutes. It covers red flags, unusual payment methods, customer diligence, and suspicious activity reporting. Completion certificates are issued automatically upon course finish.