Report Finds UAE Due Diligence Rules Fail to Halt Illicit Gold Imports

The United Arab Emirates imported at least 591 tonnes of illicit gold valued at 74 billion dollars in 2024, representing 42% of the country's total gold imports for that year, according to a research report released by Swiss non-profit organisation SWISSAID and covered by Mining.com. The analysis evaluated data from 2021 to 2025 and incorporated interviews with over 150 industry stakeholders.

According to the report, illicit gold flows continued despite the Emirati government implementing tighter due diligence regulations in 2023 intended to strengthen traceability and oversight for refiners and traders. Of the 591 tonnes identified in 2024, approximately 453 tonnes were smuggled from African producing countries, while roughly 137 tonnes originated from conflict-affected nations subject to international sanctions, including Russia, Yemen, and Sudan.

SWISSAID reported that out of 52 Emirati refineries reviewed between 2023 and 2025, only two had fully implemented the mandatory 2023 due diligence regulations. The organisation noted that most facilities continued to depend on intermediaries with minimal supply chain traceability.

The findings carry significant implications for international buyers, notably Switzerland, which serves as the leading importer of UAE gold. In response to the compliance gaps, SWISSAID urged the Financial Action Task Force (FATF) to place the UAE back on its list of jurisdictions with strategic anti-money laundering deficiencies. The organisation also recommended that UAE authorities publish non-compliance penalties, mandate disclosure of mined-gold suppliers, and intensify customs inspections, while avoiding blanket trade embargoes on conflict-affected regions to protect legitimate miners.