UAE Halts Operations at 32 Gold Refineries to Combat Money Laundering The United Arab Emirates has temporarily suspended operations at 32 gold refineries, representing about 5% of its gold sector, as part of a crackdown on money laundering. This action is part of intensified inspection campaigns by the Ministry of Economy to combat financial crimes. The suspended refineries were found to have committed 256 violations, including failing to assess risks and check customer databases against terrorism watchlists. This move is part of the UAE’s broader effort to improve its financial reputation amid concerns about money laundering and gold smuggling, highlighted by a report indicating that a significant portion of gold imported from Africa was smuggled. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Crude Edges Higher as Hurricane Francine Threatens U.S. Output READ MORE From Bust to Boom: Miners Seek Investor Redemption Amid Price Surge READ MORE ING: Gold tops $2,500 for the first time READ MORE Chinese Gold Trading EXPLODES READ MORE Consumer Spending Defies Inflation Fears, Jumps 0.7% in March READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment