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Security & Anti-Money
Laundering Committee

Open to All IPMI Members

  • SECAM Home
  • Articles/Publications
  • Contact

About the Security & Anti-Money
Laundering Committee

About Us

Holds meetings typically twice per year with an annual seminar as part of the IPMI Winter Meetings. SECAM also holds technical sessions at the Annual Conference. SECAM provides a forum for precious metals industry Security and Anti-Money Laundering professionals to exchange effective practices to mitigate systemic vulnerabilities regarding personnel, precious metals inventories and money laundering. SECAM provides Alert Bulletins depicting Security and AML threats, possible mitigation steps and points of contact to seek guidance on evolving Security and AML Issues.

SECAM Overview

Membership

Open to all IPMI members.Membership in the SECAM is highly recommended for Security, AML Compliance and Human Resource professionals responsible for Security and AML Compliance policies and procedures. The SECAM encourages the participation of Senior Management and Executive personnel with over-arching responsibility for these disciplines in their respective organizations

Chair

Randy Weinerman, Mitsubishi

Activities, Duties, and Responsibilities

 

  • Organize an Annual Meeting which address a wide range of Security and AML topics from inventory control, new surveillance technologies, investigative strategies, best/worst practices and valuable after-action discussion when countermeasures fail.
  • Co - Chairs are responsible for organizing the speakers and agenda for each meeting.
  • Additional meetings may be held if on a specific issue basis when unusual threats are posed to the precious metals industry requiring SECAM input.
  • IPMI Executive Director organizes location and logistics of meeting.

 

Objectives

 

  • Provide a yearly forum for members and presenters to discuss contemporary Security & AML issues and events impacting our industry;
  • Provide members with SECAM Alert Bulletins depicting Security and AML threats, possible mitigation steps and points of contact to seek guidance on evolving Security and AML Issues;
  • Act as a liaison and provide a forum for exchange of information and emerging threats with our IPMI Europe and precious metals industry counterparts;
  • Work with the Executive Director to improve informational exchanges and synergies on Security and AML strategies with our IPMI European Chapter colleagues.
  • Provide investigative, audit and technical support to the Executive Committee, Board of Directors and other IPMI Committees when requested;
  • Act as the IPMI’s point of contact and liaison with law enforcement, industry regulators and U.S. legislators focusing on compliance practices in the precious metals industry;
  • Act as the IPMI’s point of contact with the U.S. Treasury Department’s FinCEN and the Bank Secrecy Act Advisory Group (BSAAG) as they monitor levels of Bank Secrecy Act (BSA) compliance in the precious metals industry.
  • Work collaboratively with ERAC and Legislative Affairs to educate and influence Government Regulators for the PM industry

 

SECAM Related Articles

FinCEN Issues Proposed Rule to Strengthen and Modernize Financial Institutions’ AML/CFT Programs

Submitted by Admin on Fri, 08/02/2024 - 21:43

June 28, 2024 - WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a proposed rule to strengthen and modernize financial institutions’ anti-money

  • Read more about FinCEN Issues Proposed Rule to Strengthen and Modernize Financial Institutions’ AML/CFT Programs

FinCEN Proposes Rule To Strengthen US Anti-Money Laundering and Countering the Financing of Terrorism Programs

Submitted by Admin on Fri, 08/02/2024 - 21:28

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a rule (the Proposed Rule) to implement certain aspects of the Anti-Money Laundering Act of 2020 (the AML Act), which

  • Read more about FinCEN Proposes Rule To Strengthen US Anti-Money Laundering and Countering the Financing of Terrorism Programs

Air Canada employees among suspects identified in gold heist at Pearson airport: police

Submitted by Admin on Thu, 04/18/2024 - 09:04

Police say one former and one current employee of Air Canada are among nine suspects that are facing charges in connection with the gold heist at Pearson International Airport last year At a news conference

  • Read more about Air Canada employees among suspects identified in gold heist at Pearson airport: police
SECAM News

Corporate Transparency Act Update

February 14, 2025

Under the 2021 Corporate Transparency Act which aims to combat money laundering and other illicit financial activity, most incorporated businesses must disclose their beneficial owners to the Treasury Department’s Financial Crimes Enforcement Network. The law defines a beneficial owner as any individual who exercises substantial control over a company or owns or controls at least 25% of a company ...

Read more

FinCEN Proposes Rule To Strengthen US Anti-Money Laundering

August 02, 2024
Finance

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a rule (the Proposed Rule) to implement certain aspects of the Anti-Money Laundering Act of 2020 (the AML Act), which updated the Bank Secrecy Act (BSA) to strengthen and modernize the U.S. anti-money laundering and countering the financing of terrorism (AML/CFT) regime by focusing regulatory scrutiny on ...

Read more

A precious metals scam ripped off silver buyers to the tune of $113 million

July 06, 2023

The Commodity Futures Trading Commission (CFTC) has settled a precious metals fraud case against two companies and their owner, Robert Higgins, who were accused of running a scam of nearly of $113 million. The charges involving Delaware-based First State Depository Company (FSD), which claimed to be “private depository” that would store customer metals, and Argent Asset Group, which was engaged in ...

Read more

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