The gold-smuggling business

TIMES INT'L

Dear Editor,
The government’s zero tolerance approach to gold smuggling is really a high priority, and it should be. Following allegations of a Guyana fishing vessel, that reportedly smuggled 470 pounds of raw gold, valued US$11.5 million, a meeting was quickly convened with the Guyana Gold and Diamond Miners Association (GGDMA) and licensed gold and diamond dealers.
Over in India, Guyana’s problem with gold has been and is being replicated. The news from India recently revealed that gold smuggling seems to be on a new high. Customs officials at Mumbai airport have been detecting cases of gold smuggling almost weekly. The latest case involved customs officials arresting two passengers, one arriving from Singapore and another from Dubai – they both had gold bars on them. The total consignment was valued around US$2.5 million.
The Indian government’s efforts to curb gold illegalities have resulted in the collateral damage many feared, that is a resurgence of smuggling. Cases involving gold seizures at airports have risen tenfold in recent months in India.
At the meeting, all the association’s members again have been urged to keep selling gold to the Guyana Gold Board or authorised dealers. The ministry has also been seeking to work with Suriname, Brazil and Venezuela to reduce all forms of illegal trade in minerals. In fact, this joint effort may be the way to go.

Yours truly,
Leonard Jones

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