Compliance Regime

What is a DPMS compliance regime?

Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) requires every Dealer in Precious Metals and Stones to build and implement a compliance regime. Your compliance regime requirements are virtually the same as those faced by financial institutions, such as Canada's large banks. Your compliance regime must address at least the following five elements:

• Appointment of a compliance officer,
• Assessment and documentation of money laundering and terrorist financing risks to which you, as a DPMS, are exposed and the measures you are taking to mitigate those risks,
• Development and application of written and current compliance policies and procedures,
• Implementation and documentation of an ongoing training program, and
• Audit and review of the effectiveness of the risk-based assessment, the written policies and procedures, and the training program. The audit and review must be completed every two years.

Call 780-719-0016 or use the contact form on this page to tell Ken about your compliance regime needs.

How can Clarium Fraud & Compliance Solutions help me build a compliance regime?

If you don’t have the in-house expertise to fully and properly design, implement, and maintain a compliance regime that meets FINTRAC'S standards, consider giving Clarium a call to discuss your unique needs. Whether you need a mandatory, independent audit completed, ongoing training, or an entire AML compliance regime package, Clarium has the product and service offerings to help you gain and maintain compliance.

We know how to develop the policies, procedures, and training that every DPMS must have. We know how to identify and mitigate the money laundering and terrorist financing risks particular to DPMS. We keep abreast of the changing regulatory landscape, international sanctions, and trending enforcement, so you don’t have to worry. AML compliance for DPMS is the only type of AML compliance we do. It is our speciality.

• We focus on providing services to the Canadian jeweller.
• We tailor our solutions and training for your small business.
• We offer the peace of mind that comes with reliable results.
• Because we are a small business ourselves, we offer a professional line of products and personal service at a reasonable cost.

Contact Clarium Fraud & Compliance Solutions today to discuss your compliance regime requirements.