The National Economic Crime Centre (NECC) in the UK’s National Crime Agency (NCA) has issued a “Red Alert” Notice on Gold-based Financial and Trade Sanctions circumvention.
Nature and Purpose of this product
This Alert has been published by the JMLIT+ Sanctions Facilitators Cell for the Money Laundering Public Private Threat Group (PPTG). The purpose of this Alert is to provide information on common techniques sanctioned individuals and entities, and their enablers, are suspected to be using to evade sanctions related to gold.
This Alert looks to provide the regulated sector with details of how trade in gold may be used to facilitate sanctions circumvention.
Also attached is a feedback form, which we would ask you to complete to help improve our Alerts system going forward. If you have any questions or queries in relation to this feedback form, please feel free to email the PPP mailbox NECC.PPP@nca.gov.uk.