December 3, 2003
JVC Lauches Web Help for Patriot Act
The Jewelers Vigilance Committee has launched a USA Patriot Act section on jvclegal.org. The section is designed to help the jewelry industry understand what is expected of them and how to comply with final rulings scheduled be published by the U.S. Treasury Department early in 2004. After the final rulings are in place, companies will have three to six months to come into compliance.
The Patriot Act Web section will provide updates on all aspects of the Patriot Act, including doing business with foreign entities. The Patriot Act mandates jewelry businesses institute antimoney-laundering programs to detect and prevent exploitation by those with criminal intent.
Topics included in the Patriot Act section include: comments from Michael A. Dawson, deputy assistant secretary of the U.S. Treasury Department, made at JVC's Patriot Act workshop in November; draft of proposed Patriot Act rules; comments on the rules by the jewelry industry to the Treasury Department; updates; JVC's 2004 Patriot Act Workshop schedule; related articles, press releases, news and lists to review when doing business with foreign entities.
"We are excited about launching JVC's comprehensive USA Patriot Act section on our Web site. This section provides a wide range of important information to help jewelry companies comply with U.S. Treasury antimoney-laundering programs," said Cecilia L. Gardner, JVC's executive director and general counsel. "Visiting the site frequently will provide retailers, manufacturers and wholesaler with the news they need to achieve the goals of the anti-money laundering provisions of the Act."