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Implementing AML/CFT Measures in the Precious Minerals Sector: Preventing Crime While Increasing Revenue

Author

Listed:
  • Mr. Emmanuel Mathias
  • Bert Feys

Abstract

The trade in precious metals and stones has been linked to illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and the financing of terrorism. In addition, the extraction of precious minerals and the subsequent trade in these resources, if properly managed, present significant revenue opportunities, particularly for countries facing development needs. Building on staff expertise in anti-money laundering and combating the financing of terrorism (AML/CFT) and technical support and analytical advice on the management of natural resources, this note is a reference guide to aid countries in using the AML/CFT framework to help combat crime related to and affecting the precious minerals sector while raising revenue.

Suggested Citation

  • Mr. Emmanuel Mathias & Bert Feys, 2014. "Implementing AML/CFT Measures in the Precious Minerals Sector: Preventing Crime While Increasing Revenue," IMF Technical Notes and Manuals 2014/001, International Monetary Fund.
    • Handle: RePEc:imf:imftnm:2014/001
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    Cited by:

    1. Onour, Ibrahim, 2018. "The cost of mismanagement of gold production in Sudan," MPRA Paper 83921, University Library of Munich, Germany.
    2. Ibrahim A. Onour, 2018. "Do Political Internal Unrest and Smuggling of Precious Metals are Associated? Evidence from a Conflict Country," International Journal of World Policy and Development Studies, Academic Research Publishing Group, vol. 4(1), pages 1-5, 01-2018.

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