For Jewellers

AML/CTF program for jewellers and bullion dealers in Australia

High-value, easily portable goods make jewellery a textbook layering channel. Cash transactions of $10,000 or more already trigger AUSTRAC reporting, and Tranche 2 broadens the regime for dealers in precious metals and stones.

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Compliance Challenges for Jewellers

Jewellers and bullion dealers handling cash transactions of $10,000+ are reporting entities under AUSTRAC. Tranche 2 expands obligations from July 2026. Get a tailored program in minutes.

Threshold transaction reporting is already in force

Any cash or cash-equivalent transaction of $10,000 or more requires a Threshold Transaction Report (s 43) within 10 business days. Many small jewellers haven't been enrolled with AUSTRAC despite meeting the trigger.

Structured purchases are a known typology

Buyers splitting a purchase across several days or several stores to stay under the threshold are required to be reported as an SMR, not just declined. This requires staff training, not just a register.

Buybacks and trade-ins create the same risk in reverse

Cash payouts on trade-ins or buy-backs of $10,000 or more sit squarely within the threshold reporting regime. Many shop floors don't have a procedure for this.

Online sales and overseas buyers expand the risk surface

Click-and-collect, international shipping and crypto-funded purchases each create CDD and source-of-funds questions that high-street operations may not have considered.

What Jewellers Need for Compliance

The AML/CTF Act 2006 (Cth) and the AML/CTF Rules require all reporting entities to maintain these documents and procedures.

AML/CTF Program for high-value dealers — s 81 of the Act

ML/TF Risk Assessment for retail, online and trade-in operations

CDD procedures triggered at the $10,000 cash threshold and at suspicious-activity triggers

TTR procedure for $10,000+ physical-currency transactions (s 43)

SMR workflow including structuring and trade-in scenarios

PEP and sanctions screening for high-value buyers

Staff training on red flags specific to precious metals and stones

7-year record retention for transactions and CDD evidence (s 107)

Deadline & Applicability

Bullion sellers and high-value cash dealers are already reporting entities under the AML/CTF Act. The AML/CTF Amendment Act 2024 extends and clarifies obligations for dealers in precious metals and stones from 1 July 2026 as part of Tranche 2.

Last reviewed: 18 April 2026 · Information is general guidance, not legal advice.

How AutoAML Helps Jewellers

AI-Generated Documents

All 13 compliance documents drafted from your service mix and risk profile — Part A, Part B, risk assessment, CDD scripts, the lot.

Team & Audit Trail

Invite your team, assign Compliance Officer roles, and keep a tamper-evident audit log AUSTRAC supervisors can read.

SMR & TTR Built-in

Reporting workflows, training tracking, annual review reminders and document version control — so the program stays alive after day one.

Frequently Asked Questions

Jewellers & AUSTRAC: common questions

Do all jewellers need to enrol with AUSTRAC?

If you provide a designated service — which for jewellers and bullion dealers turns on cash thresholds and the type of metal/stone sold — yes. Tranche 2 broadens this. Even pre-Tranche 2, if you accept $10,000+ cash transactions you are likely already a reporting entity.

What if the customer pays partly in cash and partly by card?

The $10,000 threshold applies to the cash component. A $25,000 watch paid as $9,000 cash and $16,000 card does not by itself trigger a TTR — but multiple sub-threshold cash transactions within a short window must be considered for an SMR as potential structuring.

Do we need to verify ID for every purchase?

No. CDD is risk-based: triggered for transactions at or above the $10,000 threshold, and at any time you have a reasonable suspicion. Your Part B procedures should script when ID is requested so staff aren't making the call on the spot.

How does buying gold from a customer (trade-in) affect us?

Cash payouts of $10,000 or more on a buyback or trade-in are within the TTR regime. The customer is still your 'customer' for AML/CTF purposes and CDD applies.

What about online sales?

Card-and-shipping sales are lower risk than walk-in cash, but cross-border shipments and crypto-funded purchases need source-of-funds enquiry. Your risk assessment should distinguish channels and apply CDD accordingly.

What records do we have to keep, and for how long?

Transaction records, CDD evidence, your AML/CTF program itself and any independent-review reports — all for 7 years from the date of the transaction or end of the customer relationship (s 107).

Related industries under AUSTRAC Tranche 2

Many firms work across more than one designated-service category. Check the related sectors below.

For Accountants

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