Illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and terrorist financing have all been connected to the trade in precious metals and stones. Furthermore, if correctly managed, the extraction of precious minerals and subsequent trading in these resources can generate enormous cash, particularly for developing countries.First, precious minerals have been trafficked from production to consuming nations as a source of unlawful revenues to be laundered, notably supporting armed conflicts or escaping domestic taxation. In other cases, manufacturers have chosen not to declare their output\u2019s true worth to the government to reduce their tax liability. Because of the high worth of precious minerals, public employees may be tempted to demand or accept bribes at any stage of the extraction and trading process. Smuggling and corruption revenues (such as bribery) will have to be laundered. In Belgium, law enforcement officials, a significant diamond trade hub, have launched many investigations into diamond-related fraud and tax evasion.Second, valuable minerals can be acquired with unlawful money, such as drug or human trafficking revenues, as actual vehicles for laundering. For example, drug dealers in the United States were accused of buying gold with the proceeds of narcotics trafficking. The gold was subsequently modified and disguised as commonplace objects before being sent back to a South American country. According to reports, drug gangs in Western Europe have switched to the diamond sector to launder the money.Third, precious minerals are appealing because they can be used in Trade-Based Money Laundering (TBML) strategies as a cover for laundering illegal revenues raised by other crimes, such as price manipulation or falsified invoices covering fake gold or diamond sales when other crimes actually developed the money. As a result, the earnings are misrepresented as coming from legal diamond purchases and sales.Fourth, valuable minerals have been used as a kind\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and terrorist financing have all been connected to the trade in precious metals and stones. Furthermore, [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts\/5038"}],"collection":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/comments?post=5038"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/posts\/5038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/media?parent=5038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/categories?post=5038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/zh\/wp-json\/wp\/v2\/tags?post=5038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}