AML Services
JewelPAC® AML Program
Together with Jewelers Mutual Group, we’re offering the JewelPAC® program to help set up a compliant Anti-Money Laundering (AML) program in your business.
The JewelPAC® program automatically creates required customized documents and features employee education and training. In addition to being required by federal law and to maintain a relationship with your bank, setting up a compliant AML program also provides you peace of mind and helps ensure that your supply chain is free of problematic activity. With just a few hours of setup and answering questions, you will have a fully compliant automated program that you can show to your bank, your business counter-parties, and anyone else who needs documentation of your AML compliance.
For a sneak peek into JVC’s Sara Yood’s expert tips on AML, you can check out the Ask The Expert video on Jewelers Mutual’s page here.
Watch our Ask the Expert video excerpt for more information about AML!
Do You Need an AML Program?
JVC AML Services
Implementation
Member: $1,500
Non-Member: $3,500
Testing
Large Company (2 days):
Member: $3,500
Non-Member: $6,500
Small Company:
Member: $2,500
Non-Member: $4,000
Plus travel expenses, if applicable.
AML Implementation
JVC will come to your business and design and implement a customized AML program. This program will satisfy any bank inquiry, PayPal requirement, or business partner request. JVC will provide training for the Compliance Officer of the company and ensure that your business has all the tools it needs for AML compliance. This service can take anywhere from 2-5 hours, depending on the size of the company.
AML Training
All businesses subject to AML regulations are required to train their employees to ensure that their business is not unwittingly used for money laundering or terrorist financing. JVC will conduct a training session for your employees and provide information and guidance regarding all aspects of your company’s AML program. JVC will provide records of this training. This service takes approximately one hour.
AML Testing
AML regulations specify that each company’s AML program must be tested periodically to ensure that the program is working as designed. This testing must be conducted by an independent entity with familiarity regarding the AML rules; specifically, it may not be conducted by your company’s Compliance Officer. JVC can provide independent testing services to review and test every element of your AML program. JVC’s independent testing services are far less costly than outside counsel or an accounting firm. JVC will issue a results letter which can be used to demonstrate your compliance to your bank or to the IRS.