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Date: April 30, 2024 Tue
Time: 2:58 am
Time: 2:58 am
Results for precious metals
8 results foundAuthor: Perelygin, Alexander Title: Metal Fingerprint: Countering Illicit Trade in Precious Metals and Gemstones Summary: International efforts to disrupt terrorist and organized crime networks must pay special attention to how these networks are financed. Global trade in precious metals and gemstones has become a significant source of financing for both organized crime and terrorist groups. As the demand for materials bearing precious metals and stones continues to grow, criminal and terrorist networks will exploit weak national and international monitoring of the trade to finance activities that threaten us all. Public-private partnerships offer a real chance of increasing transparency and monitoring in the trade of precious metals and gemstones, thus undermining the financial foundation of global terrorist networks. Serious efforts have been undertaken by governments, international organizations, and the global business community to stem illegal trade in many commodities used in money laundering and terrorist financing—especially since the terrorist attacks of September 11, 2001, in the United States. Significant success has been seen in disrupting the trade of illegal rough diamonds through the Kimberly Process. But success has been elusive in the illegal trafficking of precious metals and gemstones. Efficient law enforcement in this area is hampered by the lack of internationally recognized procedures for certifying batches of primary precious metals-bearing raw materials and a lack of well-established methods of identifying the origin of both precious metals and gemstones. These shortcomings complicate the process of distinguishing between legal and criminal supplies and place a substantially greater burden on the due diligence efforts of precious metals refiners and stonecutters to ascertain the veracity of their customers. Russian research institutes and forensic laboratories, led by the mining and metallurgical company Norilsk Nickel, have devised advanced methods to identify the origin of semi-products bearing platinum-group metals (PGM). This methodology can be expanded to other metal groups and gemstones, taking the form of a Platinum Initiative to ensure efficient certification procedures in the international metal trade and strengthen existing certification schemes in the diamond and gemstones industries. In July 2007, an informal international working group, including experts from the private sector, government, and independent think tanks, was established under the auspices of the G8 in order to explore the potential of the Platinum Initiative. The conclusions and recommendations formulated in this policy paper are to a large extent based on the initial findings discussed at the first three meetings of this Working Group held in July and October 2007 and February 2008. Key Recommendations include the following: Develop the Platinum Initiative into a strong industry-focused program that includes: an international register of verified and legitimate traders in PGM; enhanced customs control procedures to identify PGM-bearing goods; internationally shared databases of PGM-bearing raw materials; enhanced control measures in mining and metallurgical companies; an international network of certified forensic and expert laboratories capable of tracing the origins of the goods and commodities in question. Coordinate the enforcement mechanisms of the Platinum Initiative with the relevant international organizations—in particular, the World Customs Organization (WCO), appropriate UN agencies, the Financial Action Task Force (FATF), and the G8 governments. Incorporate data on platinum-metals bearing goods and materials into the existing WCO framework using tracking systems such as the Harmonized Commodity Description and Coding System and the Customs Enforcement Network. Establish standardized procedures for information-sharing between national law enforcement agencies and PGM-producing companies to respond rapidly to the appearance of suspicious consignments of unfinished precious metals-bearing materials on the market. Strengthen the implementation and regulatory framework of the World Bank’s anti-money laundering (AML) program to reflect the significant role of illegal precious metals trading as an instrument of terrorist financing. Details: New York: East West Institute, 2008. 11p. Source: Internet Resource: Policy Paper 4/2008: Accessed October 9, 2010 at: http://www.ewi.info/metal-fingerprint-countering-illicit-trade-precious-metals-and-gemstones Year: 2008 Country: International URL: http://www.ewi.info/metal-fingerprint-countering-illicit-trade-precious-metals-and-gemstones Shelf Number: 119899 Keywords: Illegal TradeMetal TheftOrganized CrimePrecious MetalsTerrorist FinancingTerrorists |
Author: Hartelius, Jonas Title: A Draft Convention on Illicit Trade in Precious Metals and Precious Gems Summary: Unregulated or illegal production and trade in precious metals, such as platinum, and precious gems, such as diamonds, have become a source of funding for conflicts. Efforts to curb and control the illegal handling of such metals and gems have had only limited success to date. An over-arching legal framework has been lacking. Considering the need for an international framework, the EastWest Institute and the Swedish Carnegie Institute have commissioned Jonas Hartelius, Senior Fellow at EWI and Scientific Adviser to the SCI, to draft a proposed convention for the United Nations. Such a convention would provide a legal framework for efforts by all parties involved to create a transparent and responsible trade in such metals and gems. The publishers hope this draft for a convention will initiate further discussions. Details: New York: EastWest Institute and Swedish Carnegie Institute, 2009. 46p. Source: Internet Resource: Accessed October 9, 2010 at: http://www.ewi.info/draft-convention-illicit-trade-precious-metals-and-precious-gems Year: 2009 Country: International URL: http://www.ewi.info/draft-convention-illicit-trade-precious-metals-and-precious-gems Shelf Number: 119904 Keywords: Illicit TradeMetal TheftPrecious Metals |
Author: Verite Title: Risk Analysis of Indicators of Forced Labor and Human Trafficking in Illegal Gold Mining in Peru Summary: Peru is one of the largest gold producers in the world- the fifth largest, if illegally produced gold is taken into account. Hundreds of thousands of people are employed in Peru in artisanal gold mining and peripheral services. With the support of Humanity United, Verite mapped production areas and the supply chain of Peruvian gold, consulted with experts from NGOs, government, and academia, and conducted interviews with almost 100 mine workers, and workers providing peripheral services (including mechanics, cooks, sex workers, transporters, and others). In the the course of these interviews, workers told us horrendous stories of labor and sexual exploitation in Peru. There are a number of factors that make the gold sector in Peru vulnerable to forced labor: primarily, the prevalence of illegal gold mining. Its illegality results in a black hole, in which miners operate in areas that are not fully under the control of the government. Verite's report on risks of forced labor in artisanal and small scale mining (ASM) in Peru raises challenging questions for companies in industries including jewelry, mining, electronics and banking. The report reveals that ASM gold tainted by human rights abuses makes its way - through corruption, laundering and illegal export- into the hands of global traders, refineries, banks and into our watches and smart phones. Our research on these largely hidden problems is intended to encourage action on the part of stakeholders, including companies, NGOs, governments, and industry associations to raise awareness of the vulnerability to forced labor, as well as actions companies can take to improve their ethical performance. Details: Amherst, MA: Verite, 2013. 120p. Source: Internet Resource: Accessed March 11, 2014 at: http://www.verite.org/sites/default/files/images/Indicators%20of%20Forced%20Labor%20in%20Gold%20Mining%20in%20Peru_0.pdf Year: 2013 Country: Peru URL: http://www.verite.org/sites/default/files/images/Indicators%20of%20Forced%20Labor%20in%20Gold%20Mining%20in%20Peru_0.pdf Shelf Number: 131853 Keywords: Forced LaborGold Human TraffickingPrecious MetalsSexual Exploitation |
Author: Financial Action Task Force Title: Money laundering and terrorist financing risks and vulnerabilities associated with gold Summary: Gold provides an alternative means for criminals to store or move their assets as regulators implement stronger anti-money laundering and counter terrorist financing measures to protect the formal financial sector from abuse. The joint FATF-Asia/Pacific Group on Money Laundering report, money laundering / terrorist financing vulnerabilities associated with gold, identifies the many features that make gold attractive to criminals to use as a vehicle for money laundering: it has a stable value, it is anonymous and easily transformable and interchangeable. The highly lucrative gold market also presents proceed-generating opportunities for criminals at each stage, from mining to retailing. Understanding what makes gold - like other precious metals and stones, such as diamonds - attractive to criminals to legitimise their assets and to generate profits is essential in identifying this sector's money laundering and terrorist financing risks. This report provides a series of case studies and red flag indicators to raise awareness of the key vulnerabilities of gold and the gold market, particularly with anti-money laundering/ countering the financing of terrorism practitioners, and companies involved in the gold industry. Details: Paris: FATF, 2015. 42p. Source: Internet Resource: Accessed July 29, 2015 at: http://www.fatf-gafi.org/media/fatf/documents/reports/ML-TF-risks-vulnerabilities-associated-with-gold.pdf Year: 2015 Country: International URL: http://www.fatf-gafi.org/media/fatf/documents/reports/ML-TF-risks-vulnerabilities-associated-with-gold.pdf Shelf Number: 136240 Keywords: GoldMoney LaunderingOrganized CrimePrecious MetalsTerrorist Financing |
Author: Wagner, Livia Title: Organized Crime and Illegally Mined Gold in Latin America Summary: Throughout history, man has venerated gold. Gold was the first of the three gifts of the Magi to Jesus. For much of the 19th and 20th centuries, the values of world currencies were fixed in terms of gold (the Gold Standard). Olympic athletes vie for gold medals and the best footballer in the world is awarded the Ballon d'Or. An extremely well behaved child is 'as good as gold' and a generous person has 'a heart of gold'. It is only natural to think positively about gold, just as it is equally natural to think negatively about drugs. But, as the Global Initiative proves in its latest research report: Organized Crime and Illegally Mined Gold in Latin America, illegally mined gold is now more important to organized crime in some countries of Latin America than narcotics: - In Peru and Colombia - the largest cocaine producers in the world - the value of illegal gold exports now exceeds the value of cocaine exports. - Illegal mining is the easiest and most profitable way to launder money in the history of Colombian drug trafficking In the first decade of the 21st century, two trends intersected: soaring gold prices greatly increased the profitability of gold mining, whilst the US led "War on Drugs", notably in Colombia and Mexico ('Plan Colombia' and the 'Merida Initiative'), sharply reduced the profitability of drug trafficking from Latin America to the USA. As a result, there were considerable incentives for the criminal groups that control the drug trade to move into gold mining, and the fragmented nature of artisanal gold mining in Latin America greatly facilitated their entry. These groups were quick to realise that taking control of large swaths of land remote from government attention and dominating the enterprises that mined that land would enable them to generate larger profit margins with much lower risk. Even though global gold prices have gradually decreased in recent years, organized criminal groups have continued to drive the expansion of illegal gold mining. The region is now unique in the high percentage of gold that is mined illegally; about 28% of gold mined in Peru, 30% of gold mined in Bolivia, 77% of gold mined in Ecuador, 80% of gold mined in Colombia and 80-90% of Venezuelan gold is produced illegally. Illegal gold mining employs hundreds of thousands of workers across Latin America, many of whom are extremely vulnerable to labour exploitation and human trafficking. Details: Geneva, SWIT: Global Initiative Against Transnational Organized Crime, 2016. 100p. Source: Internet Resource: Accessed March 30, 2016 at: http://www.globalinitiative.net/download/global-initiative/Global%20Initaitive%20-%20Organized%20Crime%20and%20Illegally%20Mined%20Gold%20in%20Latin%20America%20-%20April%202016%20(web).pdf Year: 2016 Country: Latin America URL: http://www.globalinitiative.net/download/global-initiative/Global%20Initaitive%20-%20Organized%20Crime%20and%20Illegally%20Mined%20Gold%20in%20Latin%20America%20-%20April%202016%20(web).pdf Shelf Number: 138482 Keywords: GoldIllegal MiningOrganized CrimePrecious Metals |
Author: Global Witness Title: Jade: Myanmar's Summary: Since 2011, Myanmar's rebranded government has told the world it is transitioning from a pariah state run by a ruthless military dictatorship to a civilian regime committed to wholesale political and economic reforms. In important respects, there has been real change. Oft-cited examples include the release of Aung San Suu Kyi and other political prisoners, and the government's peace talks with ethnic armed groups. But in other critical areas, the reformist narrative bears little scrutiny. Nowhere is this truer than in the jade sector. Drawing on over a year of investigations, this report shows for the first time how a multi-billion dollar trade in one of the planet's most precious gemstones is tightly controlled by the same military elites, US-sanctioned drug lords and crony companies that the government says it is consigning to the past. Companies owned by the family of former dictator Than Shwe and other notorious figures are creaming off vast profits from the country's most valuable natural resource, and the world's finest supply of a stone synonymous with glitz and glamour. Meanwhile, very few revenues reach the people of Kachin State, the site of the Hpakant jade mines, or the population of Myanmar as a whole. As the country approaches an historic election, the importance of these findings to Myanmar's future is hard to overstate. Our investigations show that the elites who between them have most to lose from an open and fair future also have ready access to a vast slush fund in the shape of the jade sector. This raises urgent questions for reformers and their international partners. What is happening to all this jade money? Is it only being spent on real estate, fast cars and lavish parties, or is it being used for political purposes as well? The sums involved in what one industry representative calls "the government's big state secret" are staggering. Until now the jade sector's worth has been almost impossible to determine. However, based on new research and analysis, Global Witness estimates that the value of official jade production in 2014 alone was well over the US$12 billion indicated by Chinese import data, and appears likely to have been as much as US$31 billion. To put it in perspective, this figure equates to 48% of Myanmar's official GDP and 46 times government expenditure on health. Clearly, if openly, fairly and sustainably managed, this industry could transform the fortunes of the Kachin population and help drive development across Myanmar. Instead, the people of Kachin State are seeing their livelihoods disappear and their landscape shattered by the intensifying scramble for their most prized asset. Conditions in jade mines are often fatally dangerous, while those who stand in the way of the guns and machines face land grabs, intimidation and violence. Details: London: Global Witness, 2015. 128p. Source: Internet Resource: Accessed April 6, 2016 at: https://www.globalwitness.org/en-gb/campaigns/oil-gas-and-mining/myanmarjade/ Year: 2015 Country: Burma URL: https://www.globalwitness.org/en-gb/campaigns/oil-gas-and-mining/myanmarjade/ Shelf Number: 138577 Keywords: Drug LordsNatural ResourcesPrecious Metals |
Author: Global Witness Title: Lords of Jade: How Southeast Asia's biggest drug lord used shell companies to become a jade kingpin. Summary: Southeast Asia's most notorious narcotics trafficker has become one of the most powerful figures in the country's corrupt, abusive jade business, a new Global Witness report reveals today. Building on Global Witness' explosive recent reporting, Lords of Jade shows how Wei Hsueh Kang controls a range of companies licensed to exploit the Hpakant jade mines in conflict-affected Kachin State. Wei is the architect of a methamphetamine epidemic that has ripped through Southeast Asia, and is the subject of sanctions and a US$2 million bounty from the US government. His network is alleged by business insiders and observers to control Yadanar Yaung Chi, a company that was depositing waste at the tailings dump in Hpakant that collapsed on 21 November, killing over a hundred people. Companies controlled by Wei Hsueh Kang were originally given jade licences by Myanmar's military dictatorship following a ceasefire deal with the United Wa State Army (UWSA), the best equipped of the country's ethnic armed groups, in which Wei has played a leadership role. The US authorities announced indictments and sanctions on Wei's jade business in 2005 and 2008, but it simply shed one corporate skin and grew another. As one analyst of drugs business told Global Witness, "It's a shell game, they just changed the shell". Wei's group have used their connections with the much-feared UWSA to deter scrutiny of their activities. Described by one jade business insider as "a gangster group doing black business", they operate a form of protection racket that exerts control over at least fifty jade mines. Many insiders consider them the most powerful players in Myanmar's staggeringly lucrative jade sector. In the words of one, "If you don't use the Wa name, you cannot operate in Hpakant". The firms at the core of this group collectively posted sales of over US$100 million in jade across two official gems sales events in 2013 and 2014 but are reported to have made far more through smuggling of jade into China. While many of Wei Hsueh Kang's international business connections are believed to be in China and Hong Kong, the front man for the jade companies he controls has a close relationship with American machinery giant Caterpillar Inc., which has invited him on promotional tours of several countries. This reflects both the extent of Wei Hsueh Kang's evasion of US sanctions and the risks that international investors face in Myanmar. In the case of Caterpillar, these risks have been exacerbated by the company's apparent failure to do adequate due diligence on the owners of its dealership in Myanmar. Wei Hsueh Kang's role is a stark reminder of the toxic state of the jade trade, but Myanmar's new government does have options to start addressing it. The Extractive Industries Transparency Initiative (EITI), a global anti-corruption scheme which Myanmar joined in 2014, offers one entry point for tackling the opacity of the jade business, including the specific problem of hidden company ownership. It recommends that companies in the oil gas and mining industries be required to disclose their ultimate 'beneficial' owners and Global Witness is arguing that this provision be applied to jade and other extractive industries as soon as possible. Meanwhile, US sanctions on jade and key players in the business such as Wei Hsueh Kang offer a source of leverage which can be used constructively to reinforce and provide incentives for an agenda for cleaning up the sector. Details: London: Global Witness, 2015. 36p. Source: Internet Resource: Accessed April 6, 2016 at: https://www.globalwitness.org/en/reports/lords-jade/ Year: 2015 Country: Asia URL: https://www.globalwitness.org/en/reports/lords-jade/ Shelf Number: 138578 Keywords: Drug TradeNatural ResourcesPrecious MetalsSmuggling |
Author: Schouwstra, Robert Title: Strengthening the security and Integrity of the Precious Metals Supply Chain Summary: In its resolution 2013/38 entitled "Combating transnational organized crime and its possible links to illicit trafficking in precious metals," the Economic and Social Council calls upon the United Nations Interregional Crime and Justice Research Institute (UNICRI) to conduct a comprehensive study on the possible links between transnational organized crime, other criminal activities and illicit trafficking in precious metals. UNICRI has developed a programme to promote an international strategy to combat illicit trafficking in precious metals, in which the comprehensive study requested in ECOSOC resolution 2013/38 is the major component of an Assessment Phase to be followed by an Operational Phase. An Expert Meeting on "Promoting an international strategy to combat illicit trafficking in precious metals," organised by UNICRI in September 2015 in Turin (Italy), allowed the collection of experts' views on the issues and challenges that needed to be addressed and emphasized in the study. The present technical report aims at giving a comprehensive overview of the current trends related to precious metals trafficking, in particular it focuses on the precious metals supply chain, the different threats and challenges hanging over this market - including the involvement of organised crime groups and associated criminal activities - as well as the regulatory frameworks and initiatives in place to guarantee the integrity of the supply chain. The knowledge acquired throughout this report is used to identify the strengths, weaknesses, opportunities and threats to address the challenges. A series of recommendations concerning the implementation of an international strategy to prevent and combat illicit trafficking in precious metals are included in the assessment. The report is intended to address the following research questions and sub-questions: - What is the extent of illicit trafficking in precious metals? - Is illicit trafficking in precious metals linked to transnational organized crime and other associated criminal activities? - Is illicit trafficking in precious metals linked to terrorist activities? - What are the vulnerabilities of the precious metals supply chain? - How can illicit trafficking in precious metals be prevented and countered? - What are the strengths and weaknesses of existing initiatives? Details: Torino - Italy: United Nations Interregional Crime and Justice Research Institute (UNICRI), 2016. 123p. Source: Internet Resource: Accessed May 6, 2017 at: http://files.unicri.it/PM_draft_onlinev.pdf Year: 2016 Country: International URL: http://files.unicri.it/PM_draft_onlinev.pdf Shelf Number: 145328 Keywords: Illicit TraffickingNatural ResourcesOrganized CrimePrecious MetalsSupply Chain SecuritySupply ChainsTerrorismTrafficking in Metals |