GOLD IS IDEAL LAUNDERING VEHICLE, BUT AML OVERSIGHT CONTROLS ARE TOO WEAK ARGUE CRITICS

The international gold trade is worth over USD6 trillion a year, according to the World Gold Council (WGC), but oversight of the supply chain is considered weak by many critics, relying on self-regulation, making it vulnerable to money laundering. Gold remains scarce and hence valuable: from antiquity until 2019, just 197,576 tonnes has been mined – equivalent to a 21.7 metre cube, according to the World Gold Council. (1) Around two-thirds has been mined since 1950, with 2,500 to 3,000 tonnes currently extracted every year. Gold is tough to track, boosting ...


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