DIAMOND INDUSTRY REMAINS TOUGH SECTOR FOR MONEY LAUNDERING CONTROLS
April 1st, 2017
THE DIAMOND trade is still one of money launderers’ best friends due the precious stone’s high value to mass ratio, akin to the highest value banknotes that can be obtained. Indeed, it is maybe harder to trace diamonds than numbered banknotes, there is no reliable means by which the point of origin of a particular diamond can be ascertained just by examining it.
This is an international business and hence difficult to monitor. While diamond mine sources are relatively concentrated geographically, with the vast majority of the stones coming from south, ...
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