ISS TODAY : Illegal gold trade artery between Mali and Dubai means big business for smugglers

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Tax breaks in the West Africa nation and weak import procedures in the UAE fuel the multi-billion dollar illicit trade.

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There are also problems with how the DMCC traces the origin and supply chain of gold brought into the country. UAE customs don’t require information about the gold’s origin. Most of the illegally traded gold is Because many West African artisanal miners struggle to finance their activities, they take loans from Emiratis that can only be paid back through exporting their gold to the UAE. This isn’t necessarily illegal, but most of this gold is probably exported through illicit channels.

 

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