Barred from generating and accessing profits from gold produced domestically or at their mining investments abroad, sanctioned Russian entities and individuals can evade restrictions imposed on them if they engage in gold and money laundering to disguise the origins of… Read More ›
Mispricing of gold and cocoa exports from Ghana has contributed to significant tax base erosion from one of Africa’s most resource rich countries according to a new paper based on an innovative methodology for measuring abnormal pricing. Instead of using… Read More ›
The US will work with international partners as well as domestically to prevent, limit, and respond to corruption and related crimes in a significant overhaul of the way it targets public corruption that includes a clear focus on international trade… Read More ›
Concerns over trade-based financial crime contributed to the decision by the Financial Action Task Force (FATF) to add Turkey to its grey list of jurisdictions subject to increased monitoring for failing to adequately implement anti-money laundering and counter financing of… Read More ›
Penalties and fines of up to 100,000 dirhams (AED100,000 – US$27,223) are in the offing for UAE-based companies that fail to comply with reporting beneficial ownership information under new regulations that take effect on 1 July. The UAE has already… Read More ›
Standard Chartered Bank has more chance of taking possession of assets attached to alleged Indian gold and diamond fraudster, Jatin Mehta, after a judge in the UK high court restored four suspected shell companies. The bank was one of several… Read More ›
Nigerian NGO Human and Environmental Development Agenda (HEDA) has published a three part report on policies, laws and practices in the UK and the UAE as well as domestically in relation to the roles of financial and non-financial institutions in… Read More ›
The exclusion of artisanal and small-scale miners from the financial system and Switzerland’s opaque banking laws are amongst the factors making Colombia’s gold sector vulnerable to illicit financial flows (IFFs) according to a new report published by Global Financial Integrity… Read More ›