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 Charted: Workers Win As Wage Growth Outpaces Inflation READ MORE Russian Crude Exports Hit Seven-Month Low Amid OPEC+ Compliance READ MORE Gold Hits Week-High as Investors Eye Fed's Next Move READ MORE Summer Demand Boost and OPEC+ Cuts Drive Oil Prices Higher READ MORE TSX Futures Stagnate as Investors Weigh Gold Decline Against Fed Signals READ MORE Add a Comment Cancel replyYour email address will not be published.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