The precious metals and stones (PMS) industry is a prime target for money laundering, with criminals exploiting gold, diamonds, and other high-value commodities to move illicit funds across borders. From conflict diamonds to smuggled gold and fraudulent trade invoices, the industry is at high risk of financial crime.
This white paper uncovers real-world case studies of how criminals exploit PMS businesses, providing practical guidance to prevent financial crime and strengthen compliance.
What’s Inside?
- Case Study 1: The Blood Diamond Trade – How criminals infiltrate the diamond market to launder illicit funds.
- Case Study 2: Dubai’s Gold Laundering Network – How smuggled gold from Africa was legitimised through refineries.
- Case Study 3: Drug Cartels and the Diamond Trade – How criminal organisations used diamonds to clean drug money.
- Case Study 4: Gold Smuggling Rings – How shell companies and fake invoices enabled large-scale trade-based money laundering.
- How to protect your business – Customer due diligence (CDD), suspicious activity monitoring, and AML best practices.
Why This Matters
Failure to detect and prevent money laundering can result in severe regulatory penalties, reputational damage, and legal liability. This white paper provides essential insights for PMS businesses to strengthen their AML frameworks and mitigate financial crime risks.
Download the White Paper
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