Perth mints Sketchy verification?

bron.suchecki said:
AUSTRAC rules just require the dealer to obtain ID and have records, none of the transactions are reported. Only if the dealer has reason to believe that the transaction is money laundering/terrorism financing do they have to file a suspicious transaction report, otherwise the dealer just keeps a record, which would only be shown if police have a reason to investigate someone.
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Can the police just request (demand) it, or does it require a court order?
 
if one is being investigated related to financial crimes, then its an open book
who issue the license for a bullion dealers?
 
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.
 
alor said:
if one is being investigated related to financial crimes, then its an open book
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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 said:
Anything over $5k has to be reported by law as part of the AUSTRAC requirements, this applies to all bullion and coin dealers.
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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!
 
SilverDJ said:
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.
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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 ?
 
madaw1 said:
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!
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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.
 
MelbournePrepStack said:
Hey guys new to buying PM's but have decided to go with the lower premium 1oz kangaroos from perth mint.

I went to buy a 500 pack of them to start with but got hit with the verification wall of doom.

These people want to know where i shit and how i shit and who wipes me afterwards.

Isnt it dodgey for them to keep tabs on who owns what PM's?

I may just be paranoid but in a SHTF scenario wouldnt the government having a list of the houses that have PMS make it a pretty stupid choice to buy from them?

What are the alternatives for a nobody knows i have it purchase solution without being ripped off.
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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/
 
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
 
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