Politics
Gold Crackdown in UAE Fails to Curb African Smuggling, NGO Says
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Gold Crackdown in UAE Fails to Curb African Smuggling, NGO Says Gold smuggling from Africa to the United Arab Emirates showed little sign of slowing after the Gulf state introduced tougher sourcing rules, according to a new report by SwissAid. The Bern-based non-governmental organization investigated the impact of due-diligence regulations introduced by the UAE in early 2023, aimed at making refiners source gold more responsibly. The study follows SwissAid’s analysis two years ago, which...
Gold Crackdown in UAE Fails to Curb African Smuggling, NGO Says
Gold smuggling from Africa to the United Arab Emirates showed little sign of slowing after the Gulf state introduced tougher sourcing rules, according to a new report by SwissAid.
The Bern-based non-governmental organization investigated the impact of due-diligence regulations introduced by the UAE in early 2023, aimed at making refiners source gold more responsibly. The study follows SwissAid’s analysis two years ago, which found that billions of dollars of gold were smuggled out of Africa each year, with the vast majority heading to the UAE for processing.