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TGJTA Assists Members to Access AMRAC System within 3 Days

The Thai Gem and Jewelry Traders Association (TGJTA) organized training sessions on how to use the Risk Assessment and Case Management for Reporting Entities System (AMRAC) with guidance from officials of the Anti-Money Laundering Office (AMLO). The training will take place from July 8-10, 2024, at the TGJTA office. This training is intended for member entities who are obligated to report, particularly those in the gem, diamond, gold, or jewelry trading sectors as specified in Section 16 (2).

The training focuses on submitting risk assessment data related to money laundering or financing of terrorism and the proliferation of weapons of mass destruction through the AMRAC system to AMLO in accordance with strict enforcement of the relevant laws.

 

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In addition to assisting members with legal compliance, TGJTA aims to elevate the reputation of the gem and jewelry industry and is committed to developing high-quality, standard-compliant colored gemstones and various other gems for the market. The association has initiated the creation of Gemports, a reference price guide for colored gemstones, as a significant step towards revolutionizing the colored gemstone market. This initiative aims to enhance transparency in buying and selling, and provide consumers with unprecedented knowledge about trade standards, enabling the gem and jewelry industry to progress efficiently. TGJTA also emphasizes enhancing the competitiveness of Thai craftsmanship and production, ensuring fair taxation regulations, and promoting members in the global trade arena.

Reference Information: Gemports is a standard price guide for colored gemstones, developed since 2019 with the goal of fostering transparency, confidence, and education for buyers in the gem industry. By gathering and analyzing data from experts and actual traders, Gemports is a trusted source of information for professionals and enthusiasts in the gem industry.

For more information about Gemports, please visit www.gemports.com.

 

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