Who we serve
Compliance & AML
Consulting for Precious
Metals and Stones
We help precious metals and stone businesses build practical compliance and AML frameworks that support growth while meeting regulatory and banking expectations.
Who we are
Compliance expertise built
for global trade businesses
Avenox is a boutique compliance and AML consulting firm that works with businesses operating in regulated and high risk environments. Our team supports companies across the UAE and Mauritius with building and managing compliance systems that meet regulatory expectations while allowing operations to run efficiently.
Building safe passage in a complex world
Supporting businesses Across Jurisdictions
We combine banking experience, regulatory knowledge, and cross-border trade expertise across multiple jurisdictions including the UAE, China, Hong Kong, Mauritius and Switzerland — helping businesses manage AML and compliance obligations, regulatory reporting, and risk exposure.
Compliance and AML
designed for high-risk,
high volume industry
Precious metals and stones businesses operate in an environment where large transactions, cross-border trade, and multiple counterparties increase compliance exposure. Regulators and banks expect businesses to demonstrate strong AML controls and clear governance. Avenox supports firms across the industry by designing and operating compliance systems that address these risks.
Our services include:
Outsourced MLRO
AML & Compliance Framework Setup
Compliance & AML Health Checks
Outsourced KYC & Client Onboarding
Transactional Compliance Reviews
Training & Competency Programs
Outsourced Chief Compliance Officer (CCO)
Who we help
in the industry?
The precious metals and stone sector includes a wide range of businesses that operate across international supply chains. Our role is to ensure their AML and compliance frameworks match the complexity of their trade operations.
Avenox works with:
01
Precious metal traders and wholesalers
02
Diamond and gemstone dealers
03
Jewellery manufacturers and exporters
04
Precious metals suppliers and refiners
05
International trading companies dealing in gold or gemstones
A sector under
increasing regulatory scrutiny
Precious metals and stones are recognised globally as high-risk commodities for financial crime, particularly for money laundering, sanctions evasion, and illicit trade flows. Regulators in the UAE have introduced strict AML obligations for dealers in precious metals and stones (DPMS). Businesses must demonstrate effective controls across customer due diligence, transaction monitoring, and reporting obligations.
If your business operates in the precious metals or stones sector, our team can help you review and strengthen your compliance framework.
Frequently Asked
Questions
What AML regulations apply to precious metals and stones businesses in the UAE?
Dealers in precious metals and stones (DPMS) are classified as Designated Non-Financial Businesses and Professions (DNFBPs) under UAE AML regulations. They must comply with customer due diligence, transaction monitoring, record keeping, and suspicious activity reporting requirements.
Do precious metals traders need to register with goAML?
Yes. Businesses operating as DPMS in the UAE must register on the goAML platform and report suspicious transactions to the UAE Financial Intelligence Unit.
Why do banks closely monitor precious metals businesses?
Gold, diamonds, and other precious stones are considered high-risk commodities for money laundering and sanctions evasion. Banks therefore expect businesses to demonstrate strong AML controls and transparent transaction records.
What compliance controls are required for precious metals traders?
Key controls include customer due diligence (KYC), beneficial ownership verification, sanctions screening, risk assessments, transaction monitoring, and clear internal policies for reporting suspicious activities.
Do jewellery manufacturers need AML compliance programs?
Yes. If jewellery manufacturers or dealers conduct high-value transactions or trade internationally, regulators may require them to maintain AML policies and customer due diligence processes.
What are common AML risks in the precious metals industry?
Common risks include cash transactions, complex supply chains, trade-based money laundering, dealings with sanctioned jurisdictions, and misrepresentation of beneficial ownership.
How can compliance consulting help precious metals businesses?
Compliance consultants help businesses design AML frameworks, implement KYC processes, conduct risk assessments, and prepare for regulatory inspections or banking due diligence.
Do precious metals businesses need an MLRO?
Many regulated businesses appoint a Money Laundering Reporting Officer (MLRO) responsible for overseeing AML compliance and reporting suspicious transactions.
Compliance and AML consulting for precious metals and stone businesses
Your business requires compliance systems that match the complexity of global supply chains and financial transactions Speak with our team to understand how your business can strengthen its AML and compliance framework to remain inspection ready.
Case Studies
How we help precious
metals businesses operate
with confidence
Explore how Avenox has supported companies operating in high value and high-risk regulatory environment and global supply chain businesses in strengthening their compliance frameworks.
