IDEX Poll: 68% Aware of the New Anti Money Laundering Laws

Over two thirds of respondents to the weekly IDEX Online poll said they are aware of the new anti money laundering (AML) laws recently introduced in Europe and the U.S., however only half of them, 34 percent of all respondents, said they are preparing their businesses to meet the new regulations.

IDEX asked “Are you aware of the new anti money laundering laws?” 34 percent of respondents said “Yes, I’m preparing my business accordingly” and another 34 percent said “I’m aware, though not in detail”.

“I’m vaguely aware of these laws” was the answer given by 16 percent of respondents. The surprising finding was that 16 percent replied “I haven’t heard about the new laws” which was far more than expected, considering the impact the AML laws will have on diamond businesses not only in Europe and the U.S., but also on businesses in other countries that sell or buy from them.

This week IDEX is asking the diamond and jewelry industry “Where are diamonds sold to consumers with the lowest mark-up?” One-store jewelers, jewelry chains, department stores, online or on TV? You are invited to vote on IDEX’s home page.