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Do the PATRIOT Act AML regulations for the jewelry industry require me to track each transaction in which my business engages?

April 26, 2017ACT AML Business Industry Jewelry Patriot regulations require track transaction

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Do the PATRIOT Act AML regulations for the jewelry industry require me to track each transaction in which my business engages?

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A. No, the rules require that you be in a position to monitor any red flags or suspicious changes in the course of dealing (including payment and delivery methods, chain of distribution, etc.) but there is no obligation to track every individual transaction.