JVC Launches Online Patriot Act Information

The Jewelers Vigilance Committee has launched an USA Patriot Act Web section on their Web site: www.jvclegal.org. The section is designed to help the jewelry industry understand what is expected of them and how to comply with final rulings that are scheduled be published by the US Treasury Department first quarter 2004.

After final rulings are in place, there will be a period of three to six months for companies to come into compliance. JVC's USA Patriot Act section will provide up-to-the-minute information on all aspects of the Act, including doing business with foreign entities. The Act mandates jewelry businesses must institute anti-money laundering programs to detect and prevent exploitation by those with criminal intent.

Topics included in the USA Patriot Act section include: comments by Deputy Assistant Secretary, US Treasury Department Michael A. Dawson made recently at JVC's Patriot Act workshop in NYC; draft of proposed USA Patriot Act rules; comments on the rules by the jewelry industry to Treasury; timely updates; JVC's 2004 USA 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 anti-money laundering programs. 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,” said Cecilia L. Gardner, JVC's executive director and general counsel.