According to the Financial Action Task Force (FATF), dealers in precious metals and stones are considered as "obliged entities" and are subject to anti-money laundering (AML) and counter terrorism financing (CTF) regulations when they engage in certain activities.
These activities include:
Buying and selling precious metals, precious stones, or other high-value items in exchange for cash or virtual currency, with a value of €10,000 or more.
Engaging in cash transactions of €10,000 or more, regardless of whether they involve precious metals or stones.
Acting as intermediaries in cash transactions of €10,000 or more, regardless of whether they involve precious metals or stones.
Engaging in any other activities that may pose a higher risk of money laundering or terrorism financing.
