UAE Suspends 32 Gold Refineries in Money-Laundering Crackdown
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The United Arab Emirates temporarily suspended activities at 32 gold refineries as part of an effort to curb money laundering.
The government is “intensifying inspection campaigns” at plants as it cracks down on financial crimes, according to a statement from the Ministry of Economy. The shuttered facilities — which represent about 5% of the UAE’s gold sector — will be halted until Oct. 24.