AML software for jewellers: anti-money laundering without expensive consultancy
SimplifiAML is the system to run your anti-money laundering compliance day to day: customer identification, sanctions and PEP screening, beneficial owner and a record book of transactions. It helps you meet your due diligence obligations without paying a consultant for every customer.
Art. 2.1.q
Obliged entity by activity
€60,000
Minimum fine for a serious infringement (Art. 57)
10 years
Record keeping (Art. 25)
Are you an obliged entity? Jewellers and gold buyers
Anyone who professionally trades in jewellery, precious stones or precious metals is an obliged entity simply because of that activity (Art. 2.1.q), with no minimum amount. If you buy, sell or broker precious metals, Law 10/2010 requires you to identify customers, apply due diligence, record transactions and keep the documentation.
AML obligations for jewellers: the risk of sanctions
SEPBLAC may inspect you and ask for any file (Art. 47). Serious infringements carry fines from €60,000 (Art. 57), and liability can fall personally on directors (Art. 54).
Fines from €60,000
Failing to identify customers or to apply due diligence can amount to serious infringements, with a minimum fine of €60,000 (Art. 57).
Personal liability of the owner
Sanctions can fall personally on the owner or director of the business, not just on the company, and can include removal from office with disqualification from managing any entity subject to the law for up to five years (Arts. 54 and 57).
Higher-risk precious metal transactions
Cash payments, repeated purchases or customers who are not resident in Spain call for a closer look before you go ahead, and a record of what you checked.
PEPs, beneficial owner and sanctions lists
You must identify the beneficial owner when a legal entity is involved (Art. 4), apply enhanced due diligence to PEPs (Art. 14) and screen against sanctions lists.
AML obligations for jewellers
- ✓Identify and verify customers (Art. 3 of the Law); for occasional sales, from €1,000 (Arts. 4 and 18 of Royal Decree 304/2014)
- ✓Identify the beneficial owner when the customer is a legal entity (Art. 4)
- ✓Record customer and transaction details, which can be done in a record book (Art. 18 of Royal Decree 304/2014)
- ✓Screen against sanctions lists, PEPs and their family members and close associates
- ✓Apply enhanced due diligence to PEPs or customers from high-risk countries (Art. 14)
- ✓Report suspicious transactions to SEPBLAC without delay (Art. 18)
- ✓Keep the documentation for 10 years (Art. 25)
- ✓Have an AML prevention manual where the rules require it (Art. 26)
AML automation
How the software helps jewellers comply
- →Customer screening against sanctions lists, PEPs and close associates in seconds
- →Digital record book of transactions, traceable for a SEPBLAC inspection
- →Record of identification, beneficial owner and due diligence decisions
- →Alerts for repeated transactions or configured risk signals
- →Downloadable files by customer and transaction
From €39/month · No lock-in
What the software automates and what remains yours
SimplifiAML automates the operational side of AML — screening, records and documentation — so you do not depend on spreadsheets or outside consultants for every sale. It does not replace your judgement or your responsibility as an obliged entity.
What the software automates
- ✓Automatic screening against sanctions lists, PEPs and close associates
- ✓Digital record book and traceable sales transactions
- ✓Customer files structured and ready for inspection
- ✓Alerts on list matches or configured risk patterns
What remains yours
- →Deciding the level of due diligence and whether there are grounds to report to SEPBLAC
- →The AML prevention manual and internal organisation, where the rules require them
- →Reviews or examinations by an independent external expert, where the law requires them
- →Final responsibility as an obliged entity before SEPBLAC
Automate your jewellery business’s AML compliance with affordable software
Guided onboarding. No technical team. No lock-in.
Book a demoNo commitment · Free demo · In English or Spanish
Also operating in Panama? Compliance for jewellers under Panama’s Law 23 of 2015 (in Spanish)