Under the new requirements, overseen by AUSTRAC, all jewellery businesses dealing in precious metals, stones, or finished products must, by 1 July, determine whether they will accept or make cash payments of $10,000 or more. The changes are a part of broader overhauls concerning anti-money laundering and counter-terrorism financing (AML/CTF) legislation.
In early March, Jeweller hosted a webinar featuring the three buying groups – the Independent Jewellers Collective, Nationwide Jewellers, and Showcase Jewellers – which was led by AUSTRAC director of guidance, William Morris.
Following that webinar, which was attended by around 100 industry members, IJC CEO Joshua Zarb said that ensuring the broader industry was informed about these changes remained a priority.
“The general feedback from members was, ‘we now understand the four choices, but what are the actual steps to implement them?’” he said.
Showcase Jewellers managing director Anthony Enriquez reported similar responses, highlighting the need for more detailed, operational support.
‘AML/CTF for Jewellery Businesses – The Next Steps’, the session will be held at 9 am on Monday, 20 April 2026, at the Adelaide Exhibition Centre.
The session will include a recap of the four compliance pathways, followed by step-by-step implementation guidance, a sample cash policy, and examples of problematic ‘linked transactions’ from the jewellery industry. A Q&A session will also allow attendees to address specific concerns relevant to their own operations.
Nationwide Jewellers managing director Colin Pocklington added that the complexity of the framework, particularly around linked transactions, creates compliance challenges for businesses.
“Three of the four choices available to jewellery businesses carry some level of risk, especially when it comes to linked transactions,” he said.
“That’s where having a clear AML cash policy and appropriate transaction monitoring becomes essential.”
Registration is required for the seminar, with attendees needing access to the Fair prior to the official opening at 10 am. Buying group members can register through their respective organisations, while other industry participants can register via the Jeweller website.
The Australian Jewellery Fair will be hosted at the Adelaide Convention Centre on 19-20 April. For additional information or to register, visit the Australian Jewellery Fair website.
More reading
Guide to navigating law changes: Everything jewellers must know
Law changes: Buying groups unite to support jewellers
Jewellers urged to prepare for new anti-money laundering requirements
How will new money laundering laws impact your jewellery business?
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