CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
Policies & IssuesFeb 06, 2016
AML Alert: Check lists of countries with deficiencies
The Jewelers Vigilance Committee advises that companies monitor the Financial Action Task Force’s lists of countries that aren’t completely cooperative with international anti-money laundering efforts.
One of the risks to consider when implementing an anti-money laundering program is the location of your counterparties, both vendors and customers. Some countries have more vigorous and cooperative engagement with international AML efforts than others. 
Because of that, it is critical that companies check watch lists that indicate the level of AML compliance of various countries. The Financial Action Task Force (FATF), an inter-governmental body that promotes AML compliance--as well as efforts to combat terrorist financing--maintains such lists.
Companies in the jewelry industry should determine, on a regular basis, whether any of their trading partners, accounts or distribution channels are located in countries that appear on current FATF lists. If they are, the next step is to assess the AML risks of doing business with the listed companies.
FATF maintains different lists of “High-Risk and Non-Cooperative Jurisdictions,” depending on the nature of the particular country’s AML/CFT deficiency, and whether the country is working with FATF to make corrections.
It is very important to be aware of these lists, which are updated regularly, as they include countries that produce precious stones, metals and/or finished jewelry. For current information be sure to check FATF’s website.
The FATF lists, as of February 2015, are detailed below.
Jurisdictions for which a FATF call for action applies
The first, and most serious, list is of jurisdictions that are subject to a FATF call for action.
In some cases, FATF has asked its members in the international community to apply countermeasures against countries on this list to protect the international financial system from significant risks of money laundering and terrorist financing. There are currently two countries on the list that fall into this category. Both are currently the subject of U.S. sanction programs:
-- Iran
-- North Korea
The other countries on this first list, while not subject to a call for countermeasures, have AML/CFT deficiencies and have not made much progress in addressing them.
FATF calls on its members to consider the risks arising from the deficiencies. This means that the shortcomings should be seriously evaluated when conducting an AML risk assessment involving companies or accounts based in the countries, or distribution channels through the countries. The countries in this category are:
-- Algeria
-- Ecuador
-- Myanmar (Note that,
separately from AML/CFT considerations, a U.S. executive order bans the importation of rubies and jadeite from this country.)
Jurisdictions engaged in an ongoing process with FATF
The second FATF list is of countries that have AML deficiencies, but that have agreed to an action plan and have committed to work with FATF to make improvements.
The countries currently on this list are:
--Afghanistan
--Angola
--Guyana
--Indonesia
--Iraq
--Lao PDR
--Panama
--Papua New Guinea
--Sudan
--Syria
--Yemen
One country on this list has been identified as not having made sufficient progress: Uganda.
When conducting an AML risk assessment involving companies or accounts based in any of these countries, or distribution channels through these countries, the fact that the jurisdictions have AML/CFT deficiencies should be considered.
The risk assessment should also take into account that the listed countries are working with FATF to make improvements, and whether or not they are deemed to be making sufficient progress.
Several countries had been on this second list as recently as fall 2014 but are no longer subject to FATF’s compliance process. Those countries include: Albania, Cambodia, Kuwait, Namibia, Nicaragua, Pakistan and Zimbabwe.
Remember that AML compliance requires the periodic review of government watch lists that identify suspect entities and individuals and that identify countries with deficient AML/CFT practices, such as the FATF lists discussed here.
You can easily access the lists at JVCLegal.org by clicking “US & Int’l Lists & Forms” on the drop-down menu under the “AML” tab.
For questions about your anti-money laundering obligations, contact the JVC at askamlexpert@aol.com or 212-997-2002. Or, visit the website for information about our U.S. PATRIOT Act Compliance Kit and our AML testing services.
More on Policies & Issues
The Latest
SourcingFeb 27, 2026
South African Diamond Mine Closes Amid Search for Missing WorkersOwners of the Ekapa Mine reportedly filed for liquidation about a week after a mudslide trapped five workers who have yet to be found.
MajorsFeb 27, 2026
Jewelers Mutual to Donate $10M to Savannah College of Art and DesignA 10-year alliance has also begun to address the shortage of bench jewelers through scholarships, enhanced programs, and updated equipment.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsFeb 27, 2026
Renato Cipullo Turns Gold into HardstonesThe “Splendente” collection has evolved to feature hardstone letter pendants, including our Piece of the Week, the onyx “R.”
Weekly QuizFeb 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsFeb 26, 2026
Noonans to Auction Lady Wardington’s JewelryThe jewelry collection belonged to “one of society's most glamorous and beautiful women of the mid-20th century,” said the auction house.
SourcingFeb 26, 2026
Anglo American CEO Gives Insight Into De Beers SaleThe update came as Anglo took its third write-down on the diamond miner and marketer, which lost more than $500 million in 2025.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
ColumnistsFeb 26, 2026
Practical Ways Jewelers Can Leverage AI in 2026Emmanuel Raheb discusses the rise of “GEO” and the importance of having well-written, quality content on your website.
CrimeFeb 26, 2026
Three Sentenced in California Jewelry HeistEach received around four years for burglarizing a jewelry store and a coffee shop in Simi Valley, California, last May.
Events & AwardsFeb 26, 2026
GIA Names 2026 Jewelry Design Contest Winner, Retires Annual AwardCatherine Aulick, a GIA graduate, received the ninth and final Gianmaria Buccellati Foundation Award for Excellence in Jewelry Design.
TrendsFeb 25, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
SourcingFeb 25, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
EditorsFeb 25, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
PodcastsFeb 25, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
WatchesFeb 25, 2026
Private Equity Firms Write Down Value of Breitling, Report SaysThe Swiss watchmaker is battling declining sales amid a rapid retail expansion, according to a Financial Times report.
CollectionsFeb 25, 2026
Rahaminov Diamonds’ New Campaign Honors Its MatriarchThe campaign celebrates Giustina Pavanello Rahaminov, the co-founder’s wife and matriarch of the family-owned brand, for her 88th birthday.
IndependentsFeb 25, 2026
Borsheims Names 2025 ‘Ike-It’ Award WinnerRachel Bennett, a senior jeweler who has been with Borsheims since 2004, earned the award.
IndependentsFeb 24, 2026
Sherry Smith Now Principal Partner at The Retail SmithsThe industry veteran, who was with The Edge Retail Academy for 14 years, joins her husband at the company he founded in 2022.
IndependentsFeb 24, 2026
Yafa Signed Jewels to Open Store in MiamiThe vintage signed jewelry retailer chose Miami due to growing client demand in the city and the greater Latin American region.
WatchesFeb 24, 2026
Chrono24 Names New VP, U.S. General ManagerFormer Flight Club executive Jin Lee will bring his experience from the sneaker world to the pre-owned watch marketplace.
SourcingFeb 23, 2026
Designer Eddie Sakamoto, a Humble Artist, Dies at 72Sakamoto, who died in mid-January following a sudden illness, is remembered for his humility and his masterful, architectural designs.
Events & AwardsFeb 23, 2026
NYCJAOS Announces Four-Day Spring ShowThe April event will feature a new VIP shopping day requiring a special ticket.
TrendsFeb 23, 2026
Dua Lipa Is Bulgari’s New AmbassadorBulgari chose the British-Albanian singer-songwriter for her powerful and enduring voice in contemporary culture, the jeweler said.
ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
MajorsFeb 20, 2026
Jewelers Vigilance Committee Names Julie Yoakum Board ChairJVC also announced the election of five new board members.
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
