Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
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,
Editors' Picks
Sponsored by
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
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
