Press Release

GIA Furthers Best Practices with Improved ‘Know Your Customer’ Program

All laboratory clients must update their client agreements

CARLSBAD, Calif. – April 29, 2019 – To comply with applicable laws, regulations and best practices, GIA is enhancing its ‘Know Your Customer’ (KYC) program. This program supports the high standards of integrity that align with GIA’s mission of ensuring the public trust in gems and jewelry. All new and current laboratory clients will be required to confirm the identity and ownership of their businesses, and to provide identifying information for all authorized representatives conducting business with GIA on their behalf. These requirements are recognized globally and are not unique to GIA.

“GIA will only conduct business with reputable customers, suppliers and other third parties involved in legitimate business activities whose funds are derived from legitimate sources,” said Elizabeth Keating, GIA’s chief ethics and compliance officer. “As a global Institute, we have a responsibility to make all reasonable efforts to determine the true identity and ownership of client accounts, their source of funds and the nature of their business. This is a global best practice.”

Beginning May 1, GIA will start to contact current laboratory clients with an invitation to update their personal and business information, provide required documentation and to sign and submit a digital client agreement. Current clients may contact their client service representative with any questions or to begin the process.
 
Current laboratory clients and anyone interested in becoming a laboratory client can learn more about the documentation requirements and process by visiting GIA.edu/opening-a-lab-account or contacting GIA.
 
All information provided to GIA by new or current clients will be used solely in relation to their business with GIA and will remain private and confidential in accordance with applicable laws and contracts. Required information includes, but is not limited to, valid government-issued photo identification, full legal name, date of birth, permanent address for each authorized representative and disclosure of authorized third-party representatives.
 
GIA Client Agreements are available in several languages and can be previewed at  GIA.edu/gem-lab-client-agreement.
 

About GIA

An independent nonprofit organization, GIA (Gemological Institute of America), established in 1931, is recognized as the world’s foremost authority in gemology. GIA invented the famous 4Cs of Color, Clarity, Cut and Carat Weight and, in 1953, created the International Diamond Grading System™ which is recognized around the world as the standard for diamond quality.
 
Through research, education, gemological laboratory services and instrument development, the Institute is dedicated to ensuring the public trust in gems and jewelry by upholding the highest standards of integrity, academics, science and professionalism.