Perth mints Sketchy verification?

Discussion in 'General Precious Metals Discussion' started by MelbournePrepStack, Aug 26, 2019.

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  1. SilverDJ

    SilverDJ Well-Known Member

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    Can the police just request (demand) it, or does it require a court order?
     
    SilverDJ, Aug 26, 2019
    #21
  2. alor

    alor Well-Known Member Silver Stacker

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    if one is being investigated related to financial crimes, then its an open book
    who issue the license for a bullion dealers?
     
    alor, Aug 26, 2019
    #22
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  3. bron.suchecki

    bron.suchecki Well-Known Member

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    To my knowledge there is nothing special about AML/CTF laws that police don't have to follow normal processes, the point of the law is to make sure there are records about ID and transactions that can be investigated if needed.

    Bullion dealers do not have to be licensed.
     
    bron.suchecki, Aug 27, 2019
    #23
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  4. SilverDJ

    SilverDJ Well-Known Member

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    Can you point to legislation or law that says the police can just demand the records from dealers because someone is being "investigated"? (i.e. no court order, it's just them "investigating")
    I know most dealers probably would give give the information if asked by the police, but it's more a legal principle thing.
     
    SilverDJ, Aug 27, 2019
    #24
  5. madaw1

    madaw1 Well-Known Member

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    This is very weird that this law has been introduced in the first place. They want to know what you own ,when and how much did you buy so they can confiscate it from you in the future. Full democracy!
     
    madaw1, Aug 27, 2019
    #25
  6. alor

    alor Well-Known Member Silver Stacker

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    does the dealer which has your information has a bank account that they received money from buyer that is being investigated ?
     
    alor, Aug 27, 2019
    #26
  7. alor

    alor Well-Known Member Silver Stacker

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    the law can be changed, activities that are legal now can be made illegal in the future, the question is what is the current state of the law of the land.
     
    alor, Aug 27, 2019
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  8. ddevil

    ddevil Active Member Silver Stacker

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    The Super Pits have a limited mintage of 2,000 in Australia, which is why they are a little more expensive. They are pretty cool coins though. I've picked up a tube for myself
     
    ddevil, Aug 28, 2019
    #28
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  9. Sham Bolic

    Sham Bolic Member

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    i'm looking to offload 40-80 20oz bars - i made this thread yesterday ... https://www.silverstackers.com/foru...ver-bullion-stack-80-bars-of-20oz-99-9.92954/
     
    Sham Bolic, Sep 6, 2019
    #29
  10. sctpc

    sctpc Active Member

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    Gxxxxx Coins has your privacy and confidentiality as a priority. We do not automatically provide your information to AUSTRAC, and only do so if we consider the transaction suspicious, or if $10,000 or more of the transaction is paid for in cash. We do not pass, sell, loan or disseminate your information provided for identification purposes to any unrelated entity.

    AND IF YOU HAVE CASH THEY WILL CONSIDER IT SUSPICIOUS they dobbed a person I know in and the federal Police showed up, lucky he had the proof of removing the cash from his account. so know the dealer first
     
    sctpc, Sep 12, 2019
    #30
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