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Compliance

Our Sourcing & Trading Commitments

At Prestige Gold, compliance is the foundation of our operations. We have established a comprehensive framework of sourcing and trading policies that ensure all precious metals are procured, refined, and traded in line with international ethical, social, and legal standards.

 

We are committed to creating an environment of transparency, accountability, and integrity throughout our supply chain. Our compliance practices are continually monitored and enhanced to align with evolving global regulations and best practices.

Conflict-Free Gold Standard

Gold mining, when responsibly managed, contributes significantly to economic development, creating new opportunities for nations, communities, and individuals. However, in regions impacted by armed conflict, additional safeguards are required to ensure that gold production and related activities do not fuel instability.

 

At Prestige Gold, we fully adopt the Conflict-Free Gold Standard. This framework allows us to demonstrate that gold sourced from conflict-affected or high-risk areas has been produced in a manner that does not finance unlawful armed groups, perpetuate violence, or contribute to human rights abuses.

 

By adhering to globally recognized benchmarks and subjecting our processes to independent external assurance, we provide our stakeholders with complete confidence in the ethical integrity of our gold. The Standard is internationally recognized as both credible and practical, reinforcing our leadership in responsible supply chain management.

Supply Chain Due Diligence Policy

Prestige Gold & Minerals aligns with global initiatives to ensure that precious metals originate only from legitimate, ethical, and transparent sources. Our Supply Chain Due Diligence Policy is guided by the principles of the OECD, LBMA, and Responsible Mineral Initiative.

Our commitments include

  • Conducting business in a culture of honesty, with zero tolerance for fraud and corruption.
  • Maintaining the highest moral, ethical, and social standards across all operations.
  • Fostering responsible relationships with all stakeholders, including government bodies and private sector partners.

We have also set a strict internal Code of Conduct, which ensures

  1. Zero tolerance for torture, inhumane treatment, forced labor, child exploitation, or human rights abuses.
  2. Immediate termination of engagement with upstream suppliers found to be linked to unlawful activities or human rights violations.
  3. Rejection of any form of support—direct or indirect—to non-state armed groups who control mines, routes, or trade points.
  4. Refusal to engage with suppliers connected to such groups, ensuring our business does not inadvertently fuel conflict.
  5. Compliance with the rule of law in interactions with public and private security forces, with no tolerance for illegal actions or abuses.
  6. Strict prohibition of bribery, corruption, or improper influence in any form.
  7. Full transparency in reporting the origin of gold, taxes, royalties, and fees, with no misrepresentation at any stage.
  8. Active contribution to eliminating money laundering risks linked to gold extraction, trade, or transport.

 To enforce these standards, all employees, consultants, and business partners are required to comply with the policy, with violations subject to disciplinary action up to and including contract termination.

AML / CFT Policy & Procedures

As a global trader of gold and precious metals, Prestige Gold & Minerals recognizes the inherent risks of money laundering (AML) and counter-terrorist financing (CFT). To mitigate these risks, we have implemented robust processes, training, and monitoring systems designed to detect and prevent such activities.

Our approach is threefold

  • Protecting our reputation and that of our stakeholders.
  • Complying with all relevant laws and regulatory obligations in the jurisdictions where we operate.
  • Acting as a responsible corporate citizen committed to social and ethical responsibility.

Definitions

  • Money laundering: disguising the source of illegally obtained funds to make them appear legitimate.
  • Terrorism financing: concealing the destination of funds to support terrorist activity, which may involve both criminally derived and legitimate funds.

Customer Identification

Before accessing designated services, all customers must provide valid identification. Documentation requirements vary depending on customer type, including:

  • Individual clients
  • Sole proprietors
  • Domestic companies (UAE-registered)
  • Foreign companies
  • Partnerships
  • Trusts
  • Associations
  • Registered cooperatives


All identification processes are fully aligned with UAE AML regulations, European AML directives, DMCC rules, and international best practices.

AML / CFT Framework

Our five guiding principles govern AML/CFT compliance

  1. Ongoing oversight by Directors and Senior Management.
  2. Mandatory training for all permanent, temporary, and contract employees.
  3. Rigorous customer due diligence and KYC procedures.
  4. Continuous monitoring of transactions, with clear reporting mechanisms for suspicious activity.
  5. Strict adherence to AML/CFT legislation in all operating regions.

Customer Identification

The program is designed in line with our risk profile and includes

 

  • Full compliance with AML/CFT laws in all jurisdictions.
  • Alignment with Financial Action Task Force (FATF) recommendations.
  • Cooperation with UAE Government and global regulators.
  • Business decisions guided by our corporate social responsibility and AML/CFT risk appetite.
  • Ongoing system audits, monitoring, and independent verification.

Reporting Requirements

In accordance with UAE and DMCC regulations, Prestige Gold & Minerals reports:


  • Transactions involving cash over USD 100,000.
  • Large electronic transfers into or out of the UAE.
  • Any transactions or activities deemed suspicious.

Our AML/CFT program is not just a compliance requirement—it is a commitment to safeguarding the financial system, preventing crime, and protecting communities.