Report Reveals Massive Gold Smuggling from Africa to UAE
Swissaid's findings show over $30 billion in undeclared African gold flows to the UAE annually, highlighting significant gaps in regulation and enforcement.
- An estimated 435 metric tons of gold, worth more than $30 billion, was smuggled out of Africa in 2022.
- The United Arab Emirates is the primary destination, receiving over 90% of the illicit gold.
- Smuggled gold often gains legal status once imported into the UAE, complicating traceability.
- Swissaid calls for stricter border controls and formalization of artisanal mining in Africa.
- The report underscores the need for international cooperation to address the illicit gold trade.
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