Billions of dollars in gold flows illegally out of Africa each year - report says

DUBAI, United Arabs Emirates 

An official within the UAE government's media office said the country has taken significant steps to address concerns around gold smuggling and the risks it poses. 

The continued growth of the UAE's gold market reflected the confidence of the international community in its processes, the official said, responding on behalf of the country's press office without providing further identification.

"The UAE remains steadfast in its efforts to combat gold smuggling and ensure the highest standards of transparency and accountability within the gold and precious metals sector," the official said.

The Swiss government said it was aware of the challenges identifying the origins of gold and that it had introduced measures to prevent illegal flows.

"Switzerland is and stays committed to improve the traceability of commodity flows, the transparency of statistics and the quality of controls," Fabian Maienfisch, spokesperson for Switzerland's State Secretariat for Economic Affairs, said.

The report compared export data from African countries with import data from non-African countries, along with other calculations, to extrapolate the data. Among its recommendations, it called on African states to take steps to formalize artisanal and small scale mining and reinforce border controls.

It also called on non-African states to publish the identity of the countries of origin and the countries of dispatch of imported gold, and to work with authorities to identify illicit gold flows.