Anti-money Laundering

Dealers in precious metals, stones or jewels are required to establish anti-money laundering programs. Phaup Metals, Inc. meets or exceeds requirements set forth by regulators with a rigorous program that comprises the following four elements:

  • Policies, procedures and internal controls, based on the company’s assessment of the money laundering and terrorist financing risk associated with its business;

  • A compliance officer who is responsible for ensuring that the program is implemented effectively;

  • Ongoing training of appropriate persons concerning their responsibilities under the program;

  • Independent testing to monitor and maintain an adequate program.