Mark Pieth, Professor of Criminal Law at the University of Basel and President of the Board of the Basel Institute on Governance, offers an insight into the topic behind his latest book, Gold Laundering.
What is gold laundering?
On its way from the ground to your wedding ring or mobile phone, gold passes through a chain of transactions and transformations. It is traded, collated, processed, shipped or smuggled across borders – all multiple times by different actors - and then refined.
**This event has been postponed due to the coronavirus. We will issue an update as soon as we know when we can hold the event.**
The University of Basel's Law Faculty will host Basel Gold Day on Friday, 8 May.
Led by Mark Pieth, Professor of Criminal Law and President of the Basel Institute on Governance, the workshop will gather gold industry leaders and experts to explore "How to obtain clean gold: the consumer perspective".
Die Schweiz ist der global wichtigste Standort für die Raffination von Gold. Jahr für Jahr werden circa 2200-3100 Tonnen Rohgold in die Schweiz importiert. Der Grossteil der Importe ist auf die Geschäftstätigkeit der hiesigen Goldraffinerien zurückzuführen. Sie sollen gemeinsam rund 50-70% der weltweiten Goldproduktion in die Schweiz importieren, um daraus Goldbarren, Halbfabrikate und andere Güter herzustellen.
Switzerland is the world leader in gold refining. Of the roughly 2,200–3,100 tonnes of raw gold imported into the country each year, the majority is destined for Swiss gold refineries. Together these companies are estimated to refine 50–70 percent of the world’s gold production, transforming it into gold bars, semi-finished products and other goods.
The Basel Institute's latest Working Paper explores whether, why and how gold refiners can be further integrated in efforts to prevent and combat money laundering in Switzerland. The author, Stefan Mbiyavanga, explains the background and what motivated him to write it, including pending reforms in the Swiss Anti-Money Laundering Act.
In this eye-opening book, Mark Pieth gives an in-depth insight into how the global gold market works, what role Switzerland plays in it, where the hidden abuses lie and how human rights in the gold industry can be protected in a credible way.