Gold Smuggling
Coverage of Gold Smuggling in the Nexus archive.
- Agencies detect rise in gold smuggling after import duty hike
Agencies have detected an increase in gold smuggling following a rise in import duties. Customs officers rely on profiling, behavioral analysis, and intelligence inputs to identify suspects.
- Gold smugglers ‘make a killing’ in India as grey market outshines hefty tariffs
India's increased gold import tariffs to 15% have led to a surge in smuggling, with estimates exceeding 100 tonnes annually as grey market margins allow smugglers to undercut banks and refiners. Industry officials and bullion dealers report this resurgence, highlighting India's position as the world's second-largest gold market.
- Japan police arrest 3 accused of smuggling gold from Hong Kong
Japan police have arrested three individuals suspected of smuggling gold from Hong Kong into Japan. The arrests represent law enforcement action against international smuggling operations involving precious metals.