Tag Archives: Ken Brander

Risky business

In the context of the act and regulations, ‘business relationship’ must be understood to mean a ‘high-risk relationship.’ It refers to the risk-mitigation strategy a DPMS reporting entity applies to a supplier or customer for whom the DPMS has submitted two reports (e.g. one large cash transaction report and one suspicious transaction report) during the previous five years.

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The word on watches

In the context of the act and regulations, jewellery includes watches made with or containing precious metals and/or stones. If you are involved in a transaction as a buyer or seller with a watch that contains any precious metals or stones found in the definitions, that watch is considered ‘jewellery’ under the act and regulations.

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