Applicable AML/CFT regulations

Article L.561-2 of the Monetary and Financial Code (CMF)

Pursuant to Article L.561-2 of the Monetary and Financial Code, professionals in the jewelry and precious metals sector are subject to anti-money laundering and counter-terrorist financing (AML/CFT) obligations in the following cases:

• 11° — person who accepts cash (or electronic money) payments of an amount ≥ €10,000.
• 11° bis — trader or person organizing the sale of precious metals, precious stones, fine stones, pearls or jewelry articles.

Note: Law 2250 is forthcoming (2026), followed by the transposition of AMLD6 (10/27).

Operational AML/CFT obligations

Subject professionals must implement the following measures:

• Risk classification specific to the company (art. L.561-4-1 CMF): customer typologies (international UHNWI, PEP), products (investment stones, unique pieces), channels, geography.
• Identification and verification of the client and the beneficial owner before entering into a relationship or for any occasional transaction > €10,000 (art. L.561-5 and L.561-5-1).
• Constant vigilance on operations, with heightened vigilance mandatory for PEP, high risk countries (FATF/EU list), or complex/atypical operations (art. L.561-10 and R.561-20).
• Origin of funds / origin of assets to be documented for significant operations.
• Report of suspicion to TRACFIN (art. L.561-15 CMF) and systematic communication of information (COSI) for certain cash/electronic money transactions (art. L.561-15-1).
• Asset freeze / financial sanctions : mandatory control without threshold against EU/UN/national lists (art. L.562-1 et seq.).
• Storage of items and documents: 5 years after the end of the business relationship (art. L.561-12).
• Internal organization : designation of a person responsible for implementing the system and a TRACFIN reporting/correspondent, written internal procedures, regular staff training, internal control.