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Swiss court rules against gold trade transparency
From SwissInfo
Swiss Broadcasting Corp., Bern
Thursday, March 31, 2022
Switzerland's Federal Administrative Court has decided in favour of four big gold refineries that were under pressure to disclose their gold suppliers.
The Bern-based Society for Threatened Peoples said today that it took note of the court's decision to "protect business secrecy."
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"Importers can now hide behind trade secrecy and are not accountable to anyone regarding the origin of the raw material and associated risks," the organisation said in a press release.
In February 2018, the organization had submitted a request to the Federal Customs Administration to examine the files relating to the origin of gold imported in Switzerland.
This request was made due to “the complete secrecy in the gold trade.” The organization raised the question whether Switzerland is a hub for risky gold in a report focused on gold sourced in the United Arab Emirates and Peru. ...
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