13. Verification of clients, traders and suppliers
Registered Diamond Companies
In order to try to avoid dealing with fraudulent suppliers/traders and insolvent buyers it is advisable to verify the identity of diamond traders or consumers you encounter for the first time.
On the website http://www.registereddiamondcompanies.be you can find all the necessary information about the officially registered Belgian diamond companies by entering the name of the company or its official registration number.
Verification on this website is also a tool to fulfil the "know your customer principle” required by the anti-money laundering legislation applicable to Belgian diamond traders (please check the chapter on the anti-money laundering legislation).
Database Burea Van Dijk (KYC Database)
AWDC offers access to a database with details of over 250 million companies worldwide.. The data are delivered though an external provider (Bureau Van Dijk) and comprise identification details (including shareholder structures, beneficiaries and names of directors, etc.), as well as various sanctions lists, Politically Exposed Persons lists and FATF high risk countries. The database also screens according to specific risks pertaining to the diamond industry.
This tool helps diamond traders to verify information received from clients and also provides better insight into the potential risks that come with the transaction and/or business relation.
One should note that the database is not always entirely complete, and its use should only be considered as an additional aid for identifying the customer. It most certainly should not be your only source of information.
Verification on this website is also a tool to identify your clients required by the anti-money laundering legislation applicable to Belgian diamond traders (please check the chapter on the anti-money laundering legislation).
To gather free access to the database (Belgian registered diamond traders only), contact the AML & Compliance helpdesk via firstname.lastname@example.org – 03.222.05.06 or email@example.com – 03/222.05.03 .