Frequently Asked Questions
Answers to the most common questions from precious metals refineries, gold dealers, and financial institutions about our KYC and AML compliance services.
1. What is KYC vetting and why is it important for precious metals?
KYC (Know Your Customer) vetting is the process of investigating and verifying the identity, background, and integrity of your suppliers and business partners. For precious metals refineries and dealers, it is legally required under FinCEN regulations (31 CFR Part 1027) and FATF Recommendation 22 — failure to comply
can result in millions in fines and criminal liability.
2. Which countries do you cover for supplier investigations?
We have active coverage in the United States, Peru, Bolivia, Colombia, Ecuador, Venezuela, African mining regions (DRC, Ghana, Mali), and the Caribbean. These are the highest-risk geographies for gold supply chain infiltration by organized crime.
3. How long does a supplier vetting report take?
Standard vetting reports are delivered within 3-5 business days. For complex Enhanced Due Diligence (EDD) investigations, the timeframe is 5-10 business days. Emergency assessments can be arranged within 24-72 hours.
4. What regulations do your AML programs comply with?
Our programs are fully aligned with: 31 CFR Part 1027 (FinCEN), FATF Recommendations 22 & 24, OECD Due Diligence Guidance for Responsible Mineral Supply Chains, USA PATRIOT Act / Bank Secrecy Act (BSA), and OFAC Compliance Guidance.
5. Do you offer ongoing monitoring after the initial vetting?
Yes. We offer continuous monitoring contracts that alert you to changes in sanctions lists (OFAC, UN, EU), adverse media, criminal events, or regulatory changes affecting your vetted suppliers and partners.
6. Is KYC Vetting International a law firm?
No. KYC Vetting International is not a law firm. We provide investigative and compliance consulting services. We recommend that clients consult their legal counsel for formal legal opinions. Our reports are investigative intelligence documents designed to support your compliance program.