Identifying suspicious transactions for Jewelers

  • Customer’s purchase of jewels of high value does not correspond with what is expected from him/her (upon the identification of his profession or the nature of his/her business).
  • Regular purchase of high value commodities or large quantities of a specific commodity in a way that does not match the usual transactions carried out by the customer or the usual pattern of the business for his/her income.
  • Attempts to recover the amount of recent purchases without a satisfactory explanation or when the customer tries to sell what he/she recently bought at a price that is much less than the purchasing price.
  • Customer attempts to sell high value jewels at a price much lower than their actual or market value.
  • Customer’s willingness to pay any price to obtain expensive jewels without any attempt to reduce or negotiate the price.
  • Delivers jewels or precious metals purchased with illicit funds to be repurposed and asserts full ownership of the product in question, but requests payment be made to another person or entity.