Organized crime groups and blacklisted terrorist organizations have taken advantage of the lack of attention and oversight in recent years to infiltrate the gold sector, according to an expert at Geneva-based Global Initiative Against Transnational Organized Crime.
There has been modest success in a decades-long effort to minimize the exploitation of gold. In many instances, money launderers have successfully transferred illicit proceeds through gold by simply tweaking its reported value in customs documents and other records.
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