Patriot & AML Compliance
DEFINITION OF BUSINESS AND ASSOCIATED RISKS
Long’s Jewelers dba Farewell Diamond (“Long’s”) is a retail jeweler. In the course of conducting its business it has occasion to purchase jewelry from the general public in transactions which are not exempt as trade-ins, exchanges or credit based transactions. As such Long’s has implemented an Anti-Money Laundering Program intended to assess risk and identify any suspicious activities.
TRAINING AND MONITORING
Long’s shall train its employees so that they are familiar with the Program and able to act, if necessary, to address any suspicious activities. In addition, Long’s is committed to independently monitor the implementation of the Program to ensure that its effectiveness.
Terry Drost, is the acting Compliance Officer for the Patriot Act Compliance and Anti-Money Laundering Program. The Compliance Officer shall be responsible to review and revise our policy, enforce the terms and provisions of the policy, oversee implementation of the policy and training of employees, review and report on suspicious activities. In addition to terminating any transaction which involves suspicious activities, Long’s will report such activities to the appropriate authorities. All purchase transactions are documented and are reported to the Chief of Police, Burlington MA, in accordance with applicable local ordinances. For a copy of this statement, or any other relevant information concerning our program, please contact Mr. Drost at 781 273 2400.