Dealers in Precious Metals and Stones (DPMS) AML/ATF Training - Canada
10 Modules
The training consists of 10 modules, including videos, reading materials and tests.
3 Hours 1 Minute
The training is 3 Hours 1 Minute in total. You can learn at your own pace
Certificate
Complete the training successfully to get a certificate
$49.99
Who this training is for
Who it’s for
Front-line sales, customer service, operations, logistics, finance, compliance, compliance officer and senior management
Requirements
Basic knowledge of the organization’s products, sales process and internal AML/ATF policies is recommended. This training should be aligned with the organization’s risk assessment, escalation process and procedures.
What you’ll learn
Identify when a business is considered a dealer in precious metals and stones under Canadian AML/ATF requirements.
Understand why precious metals, stones, jewellery, bullion and high-value assets can be vulnerable to money laundering, terrorist activity financing and sanctions evasion.
Apply front-line behaviours: ask appropriate questions, collect facts, escalate concerns and avoid tipping off.
Explain the core FINTRAC compliance program elements and risk-based approach.
Recognize KYC triggers, identity verification methods, third-party determination, beneficial ownership, PEP/HIO and business relationship requirements.
Distinguish LCTR, LVCTR, STR, sanctions evasion and listed property reporting obligations, and understand that each is legally separate.
Recognize DPMS-specific red flags and use facts, context and indicators to support decisions.
Keep records that support FINTRAC reporting, internal case review and examination readiness.
Complete module knowledge checks, a final assessment and scenario-based questions covering the full training.
Syllabus
This training provides a practical overview of AML/ATF responsibilities for dealers in precious metals and stones in Canada. Learners will review DPMS scope, customer due diligence, reporting obligations, recordkeeping, red flags, escalation practices and case review standards to help staff identify financial crime risks and support a compliant AML/ATF program.
DPMS scope and Canadian AML/ATF purpose
Module 1 10 minutes to complete
Know the legal scope
Reading 3 mins
Understand why DPMS is exposed to financial crime
Reading 2 mins
Understand the purpose of the training
ML, ATF and sanctions risk in plain language
Module 2 26 minutes to complete
Money laundering basics
Watching 9 mins,Reading 2 mins
Terrorist activity financing basics
Watching 5 mins,Reading 2 mins
Sanctions evasion basics
Reading 3 mins
Front-line roles, client questions and escalation
Module 3 12 minutes to complete
Three lines of responsibility in practice
Reading 3 mins
Ask normal business questions
Reading 2 mins
Escalate without tipping off
Reading 2 mins
Compliance program and risk-based approach
Module 4 13 minutes to complete
Five core compliance program elements
Reading 4 mins
Risk-based controls
Reading 2 mins
Governance and culture
Reading 2 mins
KYC, identity verification and customer due diligence
Module 5 18 minutes to complete
When to verify identity
Watching 3 mins,Reading 4 mins
Methods to verify a person or entity
Reading 3 mins
Third parties, beneficial ownership, PEP/HIO and business relationships
Reading 3 mins
Transaction reporting - LCTR, LVCTR, STR and sanctions
Module 6 15 minutes to complete
Large Cash Transaction Reports
Reading 3 mins
Large Virtual Currency Transaction Reports
Reading 3 mins
STRs, sanctions evasion reports and listed property
Reading 4 mins
Recordkeeping and examination readiness
Module 7 14 minutes to complete
Records DPMS must keep
Reading 3 mins
Retention and retrieval
Reading 3 mins
Quality standards
Reading 3 mins
DPMS red flags and suspicious activity indicators
Module 8 14 minutes to complete
Customer and identity indicators
Reading 3 mins
Transaction and payment indicators
Reading 3 mins
Entity, geography, virtual currency and sanctions indicators
Reading 3 mins
Enhanced due diligence, case review and STR narratives
Module 9 15 minutes to complete
Source of funds and source of wealth
Reading 4 mins
Case decision framework
Reading 3 mins
STR narrative quality
Reading 3 mins
Complex case handling, QA and continuous improvement
Module 10 14 minutes to complete
Complex case handling
Reading 3 mins
Quality assurance
Reading 3 mins
Continuous improvement and examination readiness
Reading 3 mins
