November 6, 2003
Deputy Assistant Secretary of Treasury Will Address Patriot Act Workshop
The Jewelers Vigilance Committee says Deputy Assistant Secretary of the Treasury Michael A. Dawson will speak at the USA Patriot Act Workshop being held Nov. 12 in New York. The workshop is being sponsored by the Jewelers Vigilance Committee, The Jewelers Board of Trade and Manufacturing Jewelers & Suppliers of America.
The USA Patriot Act mandates most businesses in the jewelry industry institute anti-money laundering programs to detect and prevent exploitation by those with criminal intent (retailers who buy under $50,000 worth of gems and jewelry from the general public are currently exempted).
The Nov. 12 workshop will explain what is expected from the jewelry industry and how to comply with the Patriot Act. Final Patriot Act rulings are scheduled to be published by the U.S. Treasury Department by the end of the year, after which there will be a period of three to six months for companies to come into compliance.
The workshop will run 9:30 a.m. - 12:30 p.m. at the Fashion Institute of Technology, 227 West 27th Street, New York City, Building D, Katie Murphy Amphitheater.