The regulator requires trained people.
The Guild trains jewellery people.

Precious-stone and precious-metal dealers in Singapore sit inside the PSPM Act regime administered by the Ministry of Law's AML/CFT Division (ACD) — registration, customer due diligence, cash-transaction reporting, record-keeping, and an explicit duty to keep staff trained. This page is the regime in plain English, the 2026 Code of Practice red flags on your counter, and the Guild's AML Passport — the training ladder built for jewellery people, mapped line-by-line to the regulator's own toolkit.

1 · Are you a "regulated dealer"?

If your business manufactures, imports, exports, supplies or deals in precious stones, precious metals or PSPM products — including retail jewellery — you must register with the Registrar of Regulated Dealers before dealing, and renew annually. It is an offence to hold out as a dealer without registration. Pawnbrokers sit under their own regime; MAS-regulated institutions are exempt but for cash-transaction reporting.

2 · Your six obligations (the short version)

• Risk assessment & IPPC — assess your money-laundering risk and keep internal policies, procedures and controls covering CDD, screening, STRs and records
• Customer due diligence — identify and verify customers for cash transactions of S$20,000 and above; enhanced checks for higher risk
• Name screening — screen against sanctions and other lists
• Cash transaction reports — cash transactions of S$20,000 or more are reported
• Records — keep CDD and transaction records for at least 5 years
• Suspicious transaction reports — file STRs to the Suspicious Transaction Reporting Office when anything smells wrong; tipping off the customer is itself an offence

3 · The 2026 Code of Practice — the scam-money wave

On 2 April 2026 the Registrar issued a binding Code of Practice aimed squarely at jewellery and watch retailers, after scam-related money laundering surfaced in the trade (bulk-cash purchases in the Chinatown Complex / People's Park cluster). Breaching the Code is an offence. The red flags it names are now every counter's daily reality:

4 · The staff-training duty (the Guild's home ground)

The regime doesn't stop at paperwork: dealers must ensure employees have adequate AML knowledge, run ongoing training programmes, and assess understanding — and the compliance officer answers for it. MinLaw's free Compliance Toolkit and e-learning tell you what to cover. What has been missing is a jewellery-branded, counter-level, certifiable pathway for the people — which is exactly what the Guild builds:

Every module is mapped, line by line, to the ACD Compliance Toolkit, the Regulated Dealer's Guide and the 2026 Code of Practice — and to the FATF risk-based approach the regime was built on. Completion is registered, verifiable on the public register, and renewable in step with your firm's annual registration cycle.

5 · Around AML: the rest of the compliance wardrobe

• Fair trading — the CaseTrust Jewellery Eight Fair Trade Guidelines: accurate karat/hallmark claims, lab-grown and treatment disclosure, honest pricing. Firm accreditation belongs to CaseTrust; the Guild certifies the people who must deliver it at the counter.
• PDPA — consent, DNC registry, a designated DPO, breach reporting, retention limits. The Guild's 2-hour module and free checklist cover a jewellery shop's real workflows (repairs, custom orders, VIP clienteling).
• Responsible sourcing awareness — LBMA/OECD five-step due diligence, recycled-gold questions, disclosure norms — awareness level, woven through the gem and trade tracks.

6 · Straight from the source