Mark Pieth, President of the Board of the Basel Institute on Governance and author of the book Gold Laundering, offers an insight into the risks of human rights and environmental harms in gold supply chains. Where are the risks and responsibilities?

Collective Action with gold refiners, suppliers and other stakeholders, he concludes, can help to clean up the industry.

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.