Anti-Money Laundering
This coverage focuses on Anti-Money Laundering (AML) regulations and compliance requirements impacting the UK jewellery trade. Jewellery Focus reports on updates to legislation, enforcement actions, and best-practice guidance for jewellers, dealers, and manufacturers handling high-value transactions. Coverage includes expert commentary on HMRC supervision, due diligence obligations, and record-keeping standards, helping industry professionals manage regulatory risk. The content supports retailers, wholesalers, and suppliers in maintaining transparency and compliance within the UKโs evolving AML framework.
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Mar- 2023 -15 MarchRetailers
Gembridge celebrates 1,250 gemstones sold with no returns
American gem seller Gembridge has celebrated the achievement of selling 1,250 gemstones with no returns. Sales among the 1,250 also includes the biggest transaction so far on the digital marketplace which came in at $220,000 (ยฃ184,127). Gembridge connects customers in 60 countries with the worldโs top 1,000+ suppliers of gemstones…
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Mar- 2021 -18 MarchTrade Organisations
WDC and RJC announce cross-membership partnership
The World Diamond Council (WDC) and Responsible Jewellery Council (RJC) have announced a cross-membership partnership. The organisational cooperation is intended to increase knowledge sharing, pilot new initiatives, and extend the positive impact of both parties on communities involved in jewellery production. As part of the deal, an RJC official will…
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Jan- 2021 -11 JanuaryE-Commerce
Gembridge to protect customers with launch of new escrow account
Gembridge has announced it has opened a U.S. dollar-based escrow account with a Singaporean banking group to provide safe transactions for global buyers and sellers. Gembridge is a regulated marketplace for certified gemstones, pearls and jewellery for a verified community of buyers, sellers and consignees. The company said it will…
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Jun- 2019 -6 JuneRetailers
Banking red tape holding back UK retailers abroad
Almost three quarters (71%) of UK retailers would like their businesses to further expand internationally, however most (57%) believe overseas expansion is fraught with risk, according to new research conducted by buy now, pay later service Laybuy. The research, published today (6 June), surveyed over 200 UK retailers and revealed…
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May- 2018 -16 MayRetailers
Mystery surrounds ownership of 57,227 UK companies
Around 57,227 British companies are still not complying with new measures brought in to counter fraud and money laundering, according to big data and anti-money laundering (AML) firm Fortytwo Data. The businesses are not yet compliant with new regulations which states they must declare those people with significant control (PSCs)…
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Nov- 2017 -30 NovemberRetailers
Jewellery dealers see HMRC laundering fines rise by 166%
The value of fines being handed out to firms including jewellery, art, antiques and private jet dealers has more than doubled in a year, anti-money laundering specialists Fortytwo Data has revealed. The average penalty issued by HMRC increased by 166% from ยฃ484 to ยฃ1,290 in 2016/17 despite the number of…
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