Policy & Legal Updates
Report Finds UAE Due Diligence Rules Fail to Halt Illicit Gold Imports
A report by Swiss non-governmental organisation SWISSAID indicates that the UAE imported at least 591 tonnes of illicit gold in 2024, valued at 74 billion dollars, representing 42 percent of total gold imports. Despite tighter due diligence regulations introduced in 2023, only two out of 52 reviewed Emirati refineries had fully implemented the rules. SWISSAID called for stricter customs enforcement, public penalties, and renewed FATF scrutiny.
