Tranche 2 AML Compliance for Jewelers & Bullion Dealers

Protect your business from illicit funds. Lead AML provides simple, point-of-sale KYC tools and clear records of every high-value cash sale.

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Your Obligations

Meeting Tranche 2 Obligations for High-Value Transactions

Dealers in precious metals, stones, and products are highly vulnerable to criminal exploitation because these items retain value and are easily transported. Since 1 July 2026, your business must have an AML/CTF program in place if you accept $10,000 or more in physical currency (cash) or virtual assets for a purchase or sale.

This applies to a single transaction or several linked transactions — known as "structuring".

Submit mandatory Threshold Transaction Reports (TTRs) to AUSTRAC for any cash dealings over $10,000.

Conduct CDD on customers before completing high-value transactions.

Screen customers against PEP, sanctions, and adverse media lists.

Monitor for structuring — splitting payments to avoid the $10,000 threshold.

File Suspicious Matter Reports (SMRs) for any unusual or suspicious activity.

Structuring is Illegal

Structuring means splitting a transaction into smaller amounts to avoid the $10,000 TTR threshold. It is a serious criminal offence. Lead AML keeps linked transactions together on the customer record, so patterns are easy to spot and escalate.

Key Context

Transaction Records & Risk Profiling

You don't want compliance paperwork slowing down a major sale. Lead AML provides a streamlined platform tailored for high-value retail and bullion dealing — so your team can verify, screen, and report without disrupting the customer experience.

How We Help

Audit-Ready Record Keeping for Cash Purchases

Linked Transactions in One Place

See every purchase by a customer together, so attempts to split payments under the $10,000 threshold stand out and can be raised as a case.

TTR-Ready Records

Record each cash dealing of $10,000 or more against the customer and transaction, so you have what you need to lodge Threshold Transaction Reports with AUSTRAC on time.

Fast Individual Onboarding

At the request of industry peak bodies, AUSTRAC's jeweller framework is streamlined for individual customers. Our mobile-friendly KYC tools verify identities in seconds right at the counter.

Scrap Metal & Supply Chain Risk

We help you implement specific controls to mitigate the high risks associated with scrap metal dealers and counterfeit goods.

Am I covered?

Tick the services you provide and see in a minute whether Tranche 2 applies.

Tranche 2 guide

Key dates and every obligation explained in plain English.

Your AML/CTF program

Answer guided questions and get your risk assessment and program written.

AML for jewellers & bullion dealers: FAQs

When are jewellers and bullion dealers covered?

When you buy or sell precious metals, precious stones or precious products and accept $10,000 or more in physical cash or virtual assets, in one transaction or several linked ones.

What do I need to report to AUSTRAC?

Threshold transaction reports for physical cash of $10,000 or more, suspicious matter reports when something doesn’t add up, and an annual compliance report. Splitting payments to stay under $10,000 (structuring) is an offence and a red flag to report.

Do I need to verify every customer?

You need to verify customers before a transaction that’s a designated service, such as a cash sale of $10,000 or more. Many dealers simply refuse large cash payments; that’s a business decision you can record in your risk assessment.

How much does AML software for jewellers cost?

Lead AML plans start at $79 a month (plus GST), with monthly credit for automated ID and business checks and the AML/CTF program builder included. You can try every Growth feature free for 14 days, no card needed.

See it working on your own clients

14 days free, no card needed
$50 of check credit to try ID and business checks
Every Growth feature included

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