No. 1688, Gaoke East Road, Pudong new district, Shanghai, China.
No. 1688, Gaoke East Road, Pudong new district, Shanghai, China.
Blood diamond: From conflict to illicit-mapping the diamond trade S Krishnan Associate Professor, Seedling School of Law and Governance, Jaipur National University, Jaipur, Rajasthan, India Abstract Diamonds may be a symbol of loving, partnership and a 's best friend, but are they also becoming a close friend to
As a worldwide DIAMOND EXCHANGE foundation, DIAMOND EXCHANGE FEDERATION is resolved to full consistence with every pertinent law and directions in regards to Anti-Money Laundering. DIAMOND EXCHANGE FEDERATION approach is to forestall individuals occupied with illegal tax avoidance, misrepresentation, and other money related violations ...
The Criminal Investigation Department (CID) has launched a money laundering investigation against Diamond World and individuals associated with the company, over allegations of gold and diamond smuggling. CID's Financial Crime team is investigating the matter, states a CID headquarters press statement issued Tuesday, adding that Diamond …
Gold- and diamond-based money laundering, despite its relatively poor coverage in the literature, is a vast issue. It is complex, involves multiple actors, and stretches across …
In a groundbreaking operation named "Gem Crusher," Hong Kong Customs and Excise Department has exposed a transnational diamond trading money-laundering case—the first of its kind. The government organization revealed last week that four individuals were arrested for their alleged involvement in a syndicate that falsely declared synthetic ...
The latest Belgian anti-money laundering law dates from 18 September 2017.Diamond traders fall under the scope of this legislation since 2004. The legislation is also applicable to other sectors, e.g. banks and financial institutions, investment firms, accountants, lawyers, public notaries etc.
In a groundbreaking operation named "Gem Crusher," Hong Kong Customs and Excise Department has exposed a transnational diamond trading money-laundering case—the …
More than three dozen individuals have been sentenced for their involvement in a large-scale fraud and money laundering operation that targeted individuals, corporations, and financial institutions throughout the United States. The defendants used business email compromise schemes, romance fraud scams, and retirement account scams, among other …
The operation, which authorities codenamed "Gem Crusher," was the first money-laundering case using transnational diamond trading the Hong Kong Customs and Excise Department has detected, the government organization said Thursday.. On December 19 and 20, customs raided eight premises across multiple areas in Hong Kong, including residential and …
Newark, N.J.—Five men who work in New York City's Diamond District were arrested last week in connection with illegal money transfers, according to the U.S. Attorney's Office, District of New Jersey. The men arrested were: Raj Vaidya, 26; Rakesh Vaidya, 51; Shrey Vaidya, 23; and Neel Patel, 26, all of Edison, New Jersey; and 57-year-old ...
Such initiatives include the creation of an Anti-Money Laundering & Compliance Helpdesk and organizing regular AML Seminars, arranging free access to the Bureau Van Dijk's "Know Your Customer" database, developing an industry-specific Client Acceptance Policy in collaboration with the Belgian financial intelligence unit, performing risk ...
WASHINGTON – Today, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated a vast international money laundering and sanctions …
In a statement announcing the sanctions on Tuesday 18 April, the US's Treasury Department said: "With operations in Beirut, Lebanon; Dubai, United Arab Emirates; Johannesburg, South Africa; and Hong Kong, Nazem Said Ahmad directs a global network of family members, associates, and companies that take advantage of the permissive nature of …
Trade-Based Money Laundering (TBML): The report highlights that the specific characteristics of diamonds as a commodity, coupled with the high volume of international transactions, make the diamond trade susceptible to trade-based money laundering techniques, particularly over/under valuation of diamonds.
to be laundered. In Belgium, a major diamond trading hub, law enforcement authorities have conducted several investigations into fraud and tax ... "Diamond, Money Laundering Trial Begins" (IDEX Online, May 13, 2012). 5 "Drug Money Laundered Into Gold, U.S. Says" (The New York Times, June 6, 2003). 6 "Drug gangs go to London's ...
As the COVID-19 crisis prompts consumers to re-evaluate priorities, the diamond sector, like many others, is experiencing the harsh consequences of these changes, with the largest five diamond producers having piled up USD 3.5 billion in inventory since the beginning of the pandemic. 1 These recent difficulties add to longstanding reputational issues exemplified …
Valuables such as gold, diamonds, gemstones, and luxury timepieces possess unique qualities that make them irresistible to criminals. Their intrinsic value remains stable …
This paper uses the Danny Koort and Jeanette Rosen case to illustrate the vulnerability of the diamond trading business to money laundering. This case study aims to help build awareness with the regulatory, enforcement and customs authorities as well as reporting entities about risks and vulnerabilities of the diamonds trade, and how to mitigate them.
He was sentenced on March 21, 2023, after pleading guilty to conspiracy to commit bank fraud, aggravated identity theft, conspiracy to commit money laundering, and money laundering on March 4, 2020. Prince Sheriff Okai, 29, of Mableton, Georgia, was sentenced to four years and nine months in custody, to be followed by three years of supervised ...
The trial begins in Antwerp today of 14 people accused of taking part in a major money-laundering operation mainly involving the city's diamond industry. The accused are charged with using Swiss bank accounts and …
there is a need to constantly track and address evolving money laundering trends and methodologies. This risk assessment reflects an evolving understanding of the key money laundering threats, including crimes that generate illicit proceeds and criminal actors involved in the laundering process. The 2024
Diamond Money Laundering Research. Study on Diamond Money Laundering, based on information provided voluntarily by countries and organizations of the global diamond sector, and drafted in partnership with the Egmont Group of Financial Intelligence Units, is …
The effectiveness of measures to combat money laundering and terrorist financing depend on a country's assessment and understanding of the risks it is exposed to, and the extent to which it has mitigated these risks. This page …
Indian and Hong Kong uncovered a money-laundering network involving synthetic diamond imports Indian and Hong Kong customs collaborated to dismantle a money-laundering network involving synthetic diamond imports, as disclosed by the finance ministry on D
Evolving Methods of Diamond Laundering: As technology advances, so do the methods employed by those seeking to bypass ethical standards. The Kimberley Process consistently faces challenges in keeping up with new and sophisticated techniques used to launder diamonds. This constant game of catch-up undermines the effectiveness of the ...
CBI books diamond merchant for laundering money. By Neeraj Chauhan . Jan 14, 2020 11:38 PM IST . Share Via. Copy Link.
In Belgium, a major diamond trading hub, law enforcement authorities have conducted several investigations into fraud and tax evasion involving diamonds.4. Second, as actual vehicles for …
But back in Pretoria and Johannesburg, senior South African authorities are convinced that Kimberley has become a center for conflict diamond laundering, though no one will say so on the record without hard evidence. Despite its stringent diamond-policing laws, South Africa is a relatively amenable place for smuggling because of lax law ...
Diamonds from first daughter Ivanka Trump's now-defunct fine jewelry line were allegedly used in a massive money-laundering and fraud scheme, according to a federal court filing, GQ reported. The ...
Lalmonirhat AL leader Hundi Suman, 2 others sued for over Tk428cr money laundering; Additional IGP Motiur Rahman Sheikh made CID chief; Bashundhara challenges CID allegations, calls for chief adviser's intervention; Diamond World MD Dilip placed on 3-day remand in murder case; Diamond World MD on six-day remand
