It is essential that the business and its employees comply with the letter and spirit of this policy, since failure to do so may amount to a criminal offence for which it is possible to be sentenced to a term of imprisonment.
Aurora Diamonds and its Staff are committed to complying with the anti-money laundering legislation, in particular the Proceeds of Crime Act 2002, the Terrorism Act 2000 (each as amended) and the Money Laundering Regulations 2007.
We shall at all times take steps to ensure that Aurora Diamonds is not used to launder the proceeds of crime or to assist terrorist financing.
Aurora Diamonds shall explain to clients the need to obtain proof of identity and the limitations on our duty of confidentiality to them either in our terms of engagement or otherwise in writing.
Aurora Diamonds will ensure that staff are given appropriate and regular training to help you comply with AML/CTF, this policy and the procedures of the business.
Aurora Diamonds will communicate with clients details of any types of business we have decided not to accept.
Aurora Diamonds will regularly monitor and review our policies, procedures and training.
Upon receipt of each internal suspicion report from any of the company’s clients, Aurora Diamonds must acknowledge receipt in writing to the person making the report. Aurora Diamonds must then consider carefully whether a report should be made to the Financial Intelligence Agency (FICA).
Aurora Diamonds must make a report to FICA in the prescribed form where we have actual knowledge or suspicion, or where (based on what an ordinary member of the public might think) there are reasonable grounds to know or suspect a money laundering offence has been committed. Aurora Diamonds will need Consent from FICA for an ongoing transaction to proceed.
If Aurora Diamonds does make a report to FICA then Aurora Diamonds must maintain regular telephone contact with them where Consent is required.
Aurora Diamonds must maintain a record of each client based purchaser such as ID proof of address banking details or company details for a period of 5 years.
Proof of Identity
We must by law obtain satisfactory evidence of your identity and address. Please help us to do so by giving us the information and documentation we ask for. Aurora Diamonds are unable to proceed with your transaction and will not be able to exchange business dealings until this has been provided.
As a Jeweller, we are under a general professional and legal obligation to keep your affairs private and confidential.
However, we are required, by current legislation, to make a report to the FICA Financial Intelligence Agency where we know or suspect that a transaction involves Money Laundering or Terrorist Financing. By instructing us to act on your behalf in accordance with these terms of engagement you give us irrevocable authority to make a disclosure to FICA if we consider it appropriate.
Clients understand and agree that this authority overrides any confidentiality or entitlement to legal professional privilege. We shall be unable to tell you if we have made a report.
Aurora Diamonds is aware of and will abide by all local statutory requirements relating to compliance, anti-money laundering, Terrorist financing and dealing in conflict minerals.
Aurora Diamonds is not involved in any directly or indirectly with any form of illegal activities including such as melting down of Krugerrands, defacing Krugerrands or the destruction of gold coins.
Aurora Diamonds are proud wholesalers and retailers of the Krugerrand in Gold, Silver and Platinum as well as Exotic gold and Diamond Jewellery.