Regulations · by jurisdiction
The rules and circulars, country by country.
The AML/CTF regime for dealers in precious metals and stones in each market Clarity covers — Australia, Singapore and Hong Kong — with links straight to the source regulators and their latest circulars.
At a glance
| AustraliaAU | SingaporeSG | Hong KongHK | |
|---|---|---|---|
| Regulator | AUSTRAC | Ministry of Law (ACD) | Customs & Excise (C&ED) |
| Governing law | AML/CTF Act — Tranche 2 reforms | PSPM Act 2019 | AMLO (Cap. 615), Schedule 2 |
| Cash trigger | AUD 10,000 | SGD 20,000 | HKD 120,000 |
| Who must comply | Dealers in precious metals, stones & products | Registered precious stones & metals dealers | Category B registrants (cash dealers) |
| Records | 7 years | 5 years | 5 years |
| Status | In force from 1 Jul 2026 | In force | In force since 1 Apr 2023 |
In detail
AU
Live 1 Jul 2026
Australia
AUSTRAC · AML/CTF “Tranche 2” reforms
Governing law
Anti-Money Laundering and Counter-Terrorism Financing Act — as amended by the Amendment Act 2024 (“Tranche 2”).
What triggers it
A payment of AUD 10,000 or more in physical currency or virtual assets (single or linked transactions).
Who must comply
Dealers in precious metals, precious stones and precious products, regulated from 1 July 2026 (enrolment from 31 Mar 2026).
Record-keeping
7 years
Key obligations
Enrol with AUSTRAC · maintain an AML/CTF program · customer due diligence & enhanced CDD · Threshold Transaction Reports (TTR) · Suspicious Matter Reports (SMR) · DFAT Consolidated List sanctions screening.
SG
In force
Singapore
Ministry of Law · Anti-Money Laundering / CFT Division (ACD)
Governing law
Precious Stones and Precious Metals (Prevention of Money Laundering, Terrorism Financing and Proliferation Financing) Act 2019 — the PSPM Act.
What triggers it
A cash transaction of SGD 20,000 or more, reportable via a Cash Transaction Report (Form NP 784) through STRO’s SONAR system.
Who must comply
Regulated dealers in precious stones and metals (PSMDs), registered with the Registrar of Regulated Dealers.
Record-keeping
5 years
Key obligations
Register as a regulated dealer · customer due diligence · Cash Transaction Reports (CTR) · Suspicious Transaction Reports (STR) · screening against UN and MAS lists.
Latest — Code of Practice · 2 April 2026
Issued by the Registrar under s.35(1) PSPM Act to combat scam-related money laundering: money mules and manipulated scam victims are being sent to buy gold, jewellery and luxury watches. Dealers should watch for red flags — customers who are distressed or on a call, hurried purchases without regard to price, a third party waiting outside, payment modes not in the customer's name — with heightened attention to purchases above S$20,000, especially by elderly customers. Response protocol: ask whether anyone instructed the purchase, verify with family, warn (ScamShield), call 999 if they proceed, and file an STR. Keep records of such transactions.
HK
In force
Hong Kong
Customs & Excise Department · Dealers in Precious Metals and Stones Supervision Bureau
Governing law
Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO, Cap. 615), Schedule 2 — registration regime in force since 1 April 2023.
What triggers it
A transaction of HKD 120,000 or more (or the equivalent in any currency). Cash transactions at this level require Category B registration.
Two-tier registration
Category A — non-cash dealers; general obligations only. Category B — cash dealers; fit-and-proper test plus full AML/CTF obligations.
Record-keeping
5 years · Category B registration valid 3 years
Key obligations (Category B)
Register with the Commissioner of Customs & Excise · pass the fit-and-proper test · customer due diligence & record-keeping under Schedule 2 of the AMLO · follow the CBR AML/CTF Guideline. Non-Hong Kong dealers must file a cash transaction report within one day.
Links point to the official regulators. Clarity keeps its rules engine aligned with these sources, but this page is a reference, not legal advice — always check the current version of a law, guideline or circular before you rely on it. Last reviewed 1 September 2026.