Connect with us

Hi, what are you looking for?


Billion-Dollar African Gold Smuggling Thrives in UAE: An Eye-Opening Study Reveals!

The United Arab Emirates (UAE), popularly recognized for its expansive skylines and mega shopping malls, has a lesser-known claim to fame as the top destination for smuggled African gold, a trend worth billions according to a recent study. This multi-billion-dollar industry implicates a complex web of individuals, groups, and nations; all intricately intertwined in a relentless pursuit of wealth.

A study carried out by The Sentry, an investigative and policy team, has clearly chronicled this unsettling trend. Their findings depict the UAE as the leading global recipient of illicit gold, transported from African countries such as Democratic Republic of Congo (DRC), Sudan, and Central African Republic. The study found that, annually, gold worth billions of dollars is informally imported into the UAE from these nations, bypassing key taxes and sidestepping important regulations that would deter human rights abuses linked to the gold mining sector.

In recent years, the lure for African gold has exponentially increased in the UAE, primarily due to the driving demand in Dubai, a city synonymous with wealth, luxury, and consumerism. Dubai’s gold market, one of the largest worldwide, has been an alluring destination for African miners who face economic adversity in their home nations. Unfortunately, the lack of enforcement of regulations and oversight has created a haven for illicit gold trade.

The unregulated movement of such magnitude of African gold brings into focus the issue of conflict minerals. Much of this gold comes from mines in the DRC and Sudan, where it is often exploited in conditions of extreme human rights abuses and environmental degradation. Consequentially, this profit ends up financing armed groups, further fueling conflict in these already unstable areas.

The Sentry’s study also highlighted the ineffective international regulations contributing to the thriving illicit gold trade. Existing laws and standards aimed at responsible gold sourcing and curbing illicit financial flows, such as the Dodd-Frank Act in the United States and guidelines set by the Organisation for Economic Co-operation and Development (OECD), are not adequately enforced due to various loopholes.

Echoing this, it is found that the UAE’s domestic legislation has been equally ineffective in curbing the illicit trade. While the UAE introduced stricter controls over its large gold refiners in 2012 after a scandal involving conflict gold, these regulations have not stopped the continual flow of smuggled gold.

Moreover, the research cites grey areas exploited by the smugglers, including lax customs regimes and ambiguities surrounding the origin and ultimate destination of the

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Getchell Gold Corp, a junior miner exploring gold mining in Nevada, has just initiated trading on the Frankfurt Exchange under the symbol GGA1. Getchell...


    With government issues, i.e. bonds, it is essential to consider the “long term trend” in order to get the most benefit and create wealth...

    Latest News

    France has announced the release of François Santoni, a French official that had been held by Niger security forces since July 7. The French...


    Exploration results from the latest Bigfoot Drilling Program at the Tatiggaq Project in Canada’s Thelon Basin, Yukon-Northwest Territories region have demonstrated that the uranium...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023