AML Policy

As a precious metals dealer, federal laws require Midlands Gold to maintain an AML (Anti-Money Laundering) Policy. Furthermore, the BSA (Bank Secrecy Act) dictates certain standards for said policy. All dealers must:

  1. Assess money laundering and terrorist financing risk for the business.
  2. Implement procedures, commensurate with the level of risk, to counteract that risk.
  3. Designate a Compliance Officer to oversee the AML program.
  4. Undergo continuing training in the area of money laundering and terrorist funding.
  5. Provide for periodic independent reviews of the AML Policy.

As a family, and as a veteran-owned local business serving our community, Midlands Gold opposes all criminal activity. In addition, dealers who violate any of these laws can be punished by fines and imprisonment. Thus, there are several non-negotiable points, of which prospective customers should be aware:

  1. We require valid government-issued photo ID to purchase items from you.
  2. We must report cash payments (not checks) of $10,000 or more to the IRS.
  3. We must report evident and suspected criminal activity to government authorities.
  4. Don’t ask us how to avoid the IRS (see #3) or expect us to discuss this topic.
  5. Don’t ask us to conduct any transaction “off the books” (see #3).

Please keep these points in mind when interacting with Midlands Gold. We gladly welcome all law-abiding and decent folks, and we look forward to serving the same. Thanks for your cooperation.

This page was last updated on 10FEB2025.