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Precious metals dealers can enrol with AUSTRAC.
Precious Metals
Precious Metals AML. New Obligations from July 2026
AML/CTF obligations for dealers in precious metals, stones and products from July 2026. Learn about AUSTRAC requirements for jewellers and gold dealers.
AML for precious metals dealers
From 1 July 2026, AML/CTF obligations apply to dealers in precious stones, metals and other products. According to AUSTRAC, dealers in precious stones and metals are among the most at risk of being used for money laundering in Australia.
Authorities often find Australian criminals with jewellery and luxury watches containing precious stones and metals — high-value items popular for storing and investing criminal proceeds.
Key dates
Obligations Start
AML/CTF obligations begin for dealers.
Why precious metals are high risk
High ML Risk
Dealers are among the most at risk of money laundering in Australia.
Cash Transactions
Cash is a major risk factor — easy to use crime proceeds.
Store of Value
High-value metals popular for criminals to store and invest in.
Customer ID
Know your customer requirements for designated services.
Red Flag Indicators
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Large cash transactions for expensive jewellery and watches
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Customer reluctant to provide identification or source of funds
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Transactions inconsistent with customer profile
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Online or phone transactions with no face-to-face contact
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Buying and quickly reselling at a loss
What's Covered
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Precious Stones
Gems with market-recognised beauty, rarity and value
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Precious Metals
Gold, silver, platinum, palladium
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Precious Products
Jewellery, watches, ornaments containing precious materials
Frequently asked questions
When do precious metals dealers have AML obligations?
From 1 July 2026, AML/CTF obligations apply to dealers in precious stones, metals and other products providing designated services.
What is a precious metal?
Precious metals include gold, silver, platinum and palladium. Note that bullion is a separate designated service with existing obligations.
What is a precious stone?
According to AUSTRAC, precious stones are substances with gem quality that have market-recognised beauty, rarity and value.
Why are precious metals high risk?
AUSTRAC notes that dealers in precious stones and metals are among the most at risk of money laundering. Authorities often find criminals with jewellery and luxury watches containing precious metals.
Related resources
CDD for precious metals dealers
ARCaml helps jewellers and precious metals dealers meet AML requirements.