AUN News: Your Source for Inclusive Global News

AUN News is a leading media channel committed to delivering impactful information on public policy. Our mission is to amplify the voices of deprived and marginalized stakeholders, ensuring inclusiveness in the policy-making process to achieve the United Nations Sustainable Development Goals (SDGs) . Through rigorous reporting and insightful analysis, we bring critical global issues to the forefront, striving for transparency and accountability in governance.

Our Commitment to Global News Coverage

With a diverse network of dedicated journalists, editors, and broadcasters, AUN News covers essential topics affecting governance, development, and social affairs across the Americas, Europe, Africa, the Middle East, Asia, Oceania, and beyond. Our commitment to inclusiveness drives us to provide authentic and credible reporting on critical areas such as:

  • International Trade & Commerce: Understanding the dynamics of trade agreements, tariffs, and their impact on local economies is vital. We provide insights into trade policies and their implications for global markets.
  • International Relations and Politics: We analyze the relationships between countries, exploring diplomatic efforts and conflicts that shape our world. Our coverage includes political alliances, treaties, and the role of international organizations.
  • International & Regional Cooperation Mechanisms: Highlighting collaborative efforts among nations to address global challenges, we report on initiatives that promote peace, security, and shared prosperity.
  • Art and Culture: AUN News recognizes the importance of cultural narratives in shaping public discourse. We showcase diverse artistic expressions that reflect societal values and issues.
  • Conflict: Causes, Effects, Regulations: Our investigative reporting delves into the root causes of conflicts, their impact on communities, and the legal frameworks governing them.
  • Democracy and Civil Rights: We advocate for democratic governance and civil liberties, reporting on human rights issues and the struggles faced by marginalized groups.
  • Environmental Laws and Global Concerns: Addressing climate change and environmental degradation, AUN News covers legislation and advocacy efforts aimed at protecting our planet.
  • Labour, Migration, and Trafficking Issues: We shed light on the complexities of labor rights, migration policies, and the fight against human trafficking, advocating for justice and equity.

Stay Informed with AUN News

Our expert team provides accurate, unbiased reporting and analysis, ensuring that you remain informed on crucial issues. We cover a wide array of topics, including International Relations, Environment Laws, and more, helping you grasp complex global dynamics.

By following AUN News, you gain access to reliable information that empowers you to make informed decisions about the world around you. Our commitment to fact-based reporting ensures that you receive the highest quality news coverage available.

Expert Analysis and Insightful Commentary

At AUN News, we pride ourselves on offering insightful analysis and commentary from experts in Political Science, Fact-Checking, Investigative Reporting, and Policy Advocacy. Our diverse perspectives help readers understand and engage with intricate issues affecting public policy. We delve into critical topics, providing context and expert opinions that facilitate meaningful discussions.

Join Our Engaged Community

Become a part of our community by joining the conversation on pressing global issues. Share your thoughts, connect with like-minded individuals, and engage in meaningful discussions on topics that matter to you. AUN News serves as a platform for dialogue, allowing diverse voices to come together and champion inclusive policies.

Our Dedication to Social Justice

AUN News is committed to promoting social justice and grassroots advocacy. We focus on Democracy, Civil Rights, Labour, Migration, and Trafficking Issues to raise awareness and stimulate change in our communities. By highlighting these vital topics, we aim to foster an environment where everyone’s rights are respected and upheld.

Fact-Based Reporting

Our dedication to fact-based reporting ensures that readers receive accurate information to make informed decisions about issues that affect their lives. We strive for integrity and transparency in all our reports, recognizing that our audience deserves trustworthy news.

Connect with AUN News

Join us today to start receiving our informative content. Stay updated on vital issues and become part of our community. Engage with others, share your opinions, and contribute to discussions that impact society. Your voice matters, and together we can drive meaningful change.

Our Mission

At AUN News, we strive to build a more inclusive world. We support businesses, policymakers, civil society, and international news outlets in championing inclusive policies and achieving Sustainable Development Goals. Our mission is to ensure everyone has a voice in the policy-making process.

Why AUN News Exists

We are driven by a belief in inclusiveness and the Sustainable Development Goals. AUN News amplifies marginalized voices in the policy-making process, recognizing their vital role in shaping effective policies. We are the broadcasting arm of the Advocacy Unified Network, headquartered in The Hague, Netherlands, with offices in New York, Durban, London, and Singapore.

Conclusion

AUN News is more than just a media channel; it’s a movement towards inclusivity and awareness. By providing comprehensive coverage of critical global issues, we empower our audience to engage with the world around them. We believe that informed citizens are the backbone of a healthy democracy and advocate for a future where everyone’s voice is heard and valued.

Together, let’s create a more informed society that champions human rights, social justice, and sustainable development. Stay connected with AUN News for the latest updates, insightful analysis, and a community dedicated to fostering positive change.

AUN News: Your Source for Inclusive Global News

AUN News is a leading media channel dedicated to delivering impactful information on public policy. We focus on amplifying the voices of deprived and marginalized stakeholders, ensuring inclusiveness in the policy-making process to achieve the United Nations Sustainable Development Goals (SDGs) .

Our Commitment to Global News Coverage

With a network of committed journalists, editors, and broadcasters, AUN News covers essential topics affecting governance, development, and social affairs across the Americas, Europe, Africa, the Middle East, Asia, Oceania, and beyond. Our dedication to inclusiveness drives us to provide authentic and credible reporting on critical areas such as:

  • International Trade & Commerce
  • International Relations and Politics
  • International & Regional Cooperation Mechanisms
  • Art and Culture
  • Conflict: Causes, Effects, Regulations
  • Democracy and Civil Rights
  • Environmental Laws and Global Concerns
  • Labour, Migration, and Trafficking Issues

Stay Informed with AUN News

Our expert team provides accurate, unbiased reporting and analysis, ensuring that you remain informed on crucial issues. We cover various topics, including International Relations, Environment Laws, and more, helping you grasp complex global dynamics.

Expert Analysis and Insightful Commentary

At AUN News, we offer insightful analysis and commentary from experts in Political Science, Fact-Checking, Investigative Reporting, and Policy Advocacy. Our diverse perspectives help readers understand and engage with intricate issues affecting public policy.

Join Our Engaged Community

Become a part of our community by joining the conversation on pressing global issues. Share your thoughts, connect with like-minded individuals, and engage in meaningful discussions on topics that matter to you.

Our Dedication to Social Justice

AUN News is committed to promoting social justice and grassroots advocacy. We focus on Democracy, Civil Rights, Labour, Migration, and Trafficking Issues to raise awareness and stimulate change in our communities.

Fact-Based Reporting

Our dedication to fact-based reporting ensures that readers receive accurate information to make informed decisions about issues that affect their lives. We strive for integrity and transparency in all our reports.

Connect with AUN News

Join us today to start receiving our informative content. Stay updated on vital issues and become part of the AUN News community. Engage with others, share your opinions, and contribute to discussions that impact society.

Our Mission

At AUN News, we strive to build a more inclusive world. We support businesses, policymakers, civil society, and international news outlets in championing inclusive policies and achieving Sustainable Development Goals. Our mission is to ensure everyone has a voice in the policy-making process.

Why AUN News Exists

We are driven by a belief in inclusiveness and the Sustainable Development Goals. AUN News amplifies marginalized voices in the policy-making process, recognizing their vital role in shaping effective policies. We are the broadcasting arm of the Advocacy Unified Network, headquartered in The Hague, Netherlands, with offices in New York, Durban, London, and Singapore.

10 measures to stop illegal financial flows from the mining industry

Date:

10 measures to stop illegal financial flows from the mining industry

  • news by AUN News correspondent
  • Thursday, December 01, 2022
  • AUN News – ISSN: 2949-8090

Summary:

  • The production and trading of gold from Venezuela, which typifies many of the problems with IFFs in general, are the focus of this article’s primary concerns and suggestions for solutions.

  • Following Minerven’s 2019 suspension by the U.S. Treasury, illegal mining is thought to have helped the Maduro dictatorship hold on.

  • Look beyond gold: While the movement of gold out of Venezuela is an important area for reform, other experts pointed out that other commodities, such as vital or transitional minerals, are being exploited to diversify criminal portfolios.

  • The proposals above offer a few illustrative ideas for combating IFFs.

  • Protecting human rights and battling corruption are goals of the United States’ anti-corruption strategy and the Summit for Democracy and its emphasis on pledges to promote democracy.

Transnational action is necessary to address the fundamentally complicated problem of fighting corruption. High stakes are involved. Multistakeholder efforts to fight corruption are crucial to achieving democratic renewal globally, as initiatives like the Summit for Democracy and the United States Agency for International Development’s Combating Transnational Corruption Grand Challenge have highlighted. An example is illicit financial flows (IFFs), which are “illegal movements of money or capital from one country to another.” IFFs encourage corruption, intensify environmental damage, increase inequality, and undermine economic security. The effects are particularly severe in low- and middle-income nations, but not just because IFFs result in a “loss of what are frequently vitally needed resources to fund public projects or critical investments.”

Of course, no economy can solve this issue by itself. Solutions to IFFs necessitate considerable cross-national collaboration due to the globalized structure of financial institutions. The production and trading of gold from Venezuela, which typifies many of the problems with IFFs in general, are the focus of this article’s primary concerns and suggestions for solutions.

Background

Venezuela’s gold production and trade illustrate many of the dangers and adverse effects of IFFs. Illegal mining, especially of gold, contributes to environmental degradation, violations of human rights, and security problems for Venezuela and the surrounding countries. Regionally, illegal gold mining is becoming more prevalent, partly due to high gold prices and a lack of governmental will and resources to address the issue. For instance, Colombia is thought to mine 69% of its gold illegally, and the country earns an estimated US$2.4 billion a year from the illegal gold trade.

Hugo Chavez, president at the time, nationalized the mining industry in 2011 to consolidate government control over the sector. Gold became a crucial source of income for the Maduro administration following the collapse of the nation’s economy. The dictatorship now has few sources of money due to international export restrictions combined with falling oil production.

The government-owned gold firm Compania General de Minera de Venezuela (Minerven), only undertakes a little amount of its mining. Instead, experts point out that the government buys gold from several small-scale mines all around the nation, including those run by illicit organizations. Sindicatos, a type of criminal organization from Venezuela, and illegal armed groups from Colombia, particularly ex-members of the FARC and the ELN, are examples of organizations participating in illegal mining. The government has also used the revenues from the clandestine gold market to pay the military and high-ranking political figures security fees to keep their allegiance. There are few options for change or restitution because this has occurred in an environment where there is “no democracy, no independence, or balance of powers,” in addition to a sophisticated worldwide corruption system.

The Banco Central de Venezuela (BCV) or criminal organizations ship gold straight out of the country as contraband, particularly to nations like Turkey, Iran, Uganda, Libya, and the United Arab Emirates. Following Minerven’s 2019 suspension by the U.S. Treasury, illegal mining is thought to have helped the Maduro dictatorship hold on.

These complex issues and possible solutions are explained through research by the Leveraging Transparency to Reduce Corruption (LTRC) effort and many others[1], as well as professional comments from a moderated panel discussion and the following workshop.

Arguments against and suggestions

An increase in gold production, the sheer volume of people participating in gold smuggling, and the challenges of tracking down illegal gold flows have all contributed to a problem with few opportunities to even attempt to resolve it. This includes the difficulty in obtaining trade and customs data (which could aid those fighting corruption in determining the size and sources of resource flows) and the complex global character of the issue.

Following are ten suggestions that outline potential avenues for addressing IFFs through research, training, education, and engagement methods. These suggestions were informed by the expert conversations mentioned above and take into account the obstacles mentioned above. While many of these opportunities apply to the fight against IFFs more generally, they were found in the context of illicit gold flows from Venezuela.

  1. Address and include important regional actors: Several experts emphasized preventing IFF enablers at the supply chain and regional trade levels. Even though there is no doubt that there are international laundering networks, it appears that gold from dispersed flows leaving Venezuela is primarily laundered in the Latin America and Caribbean (LAC) region through significant regional transit hubs, particularly Colombia, the Dominican Republic, Brazil, Suriname, Guyana, and Panama.
  2. Support the development of local journalists’ capacities: Transparency can be advanced by providing local journalists with funding and training to examine suspected IFFs and other corruption-related issues. This can lead to pressure for reform from anti-corruption advocates. For instance, exercise may be provided to journalists on how to probe illicit flows using transaction-level data, with the results being shared through worldwide outlets.
  3. Leverage incentives broadly: Since interaction with the Venezuelan government is not anticipated, it’s critical to identify alternative means of encouraging better management of natural resources. More engagement with indigenous people, a collaboration between local and international organizations, and coordination with the commercial sector and all participants throughout the value chain are crucial, according to several experts.
  4. Thinking broadly: Talk about all participants throughout the value chain and examine how gold is exchanged (doré, scrap, jewellery, concentrates) with an eye toward their vulnerabilities to completely address the challenge.
  5. Close implementation gaps: There are frequently substantial gaps between the standards for due diligence and its completion or application. We may be able to comprehend these bottlenecks better and their causes with the aid of new studies.
  6. Build stakeholders’ ability and understanding regarding due diligence: In addition to the aforementioned, it is crucial to instruct buyers, exporters, and traders on how to do their supplier due diligence more successfully. According to several experts, governments everywhere should be pushed to increase the pressure on exporters and trade hubs to adhere to strict due diligence norms.
  7. Consider free trade zones: According to the OECD, these areas can “act as enabling mechanisms for both gold laundering and money laundering linked with gold,” hence it is essential to pay more attention to how they facilitate gold flows and related financial crimes.
  8. Enhance data: According to several experts, trade and customs data are frequently inconsistent, incorrect, or insufficient, and as a result, there is a need for international institutions to assist in enhancing this data.
  9. Increase public awareness of environmental degradation: In Venezuela, groups like SOS Orinoco have recorded ecological damage and human rights violations by illicit mining. Many experts emphasized that these concerns received insufficient attention both locally and internationally and pointed out that the international community, especially international environmental protection organizations, frequently avoids working in Venezuela.
  10. Look beyond gold: While the movement of gold out of Venezuela is an important area for reform, other experts pointed out that other commodities, such as vital or transitional minerals, are being exploited to diversify criminal portfolios. More study is required to comprehend this issue’s size and complexity fully.

The proposals above offer a few illustrative ideas for combating IFFs. It is crucial to building on these concepts going forward by figuring out who is most suited to pursue them and how to do so in a way that is mindful of dangers to people or collectives. This must be accomplished while handling the politics surrounding the necessary acts, especially in enabling nations.

Protecting human rights and battling corruption are goals of the United States’ anti-corruption strategy and the Summit for Democracy and its emphasis on pledges to promote democracy. These promises may present a critical window of opportunity for a more comprehensive, global initiative that targets the nations that produce IFFs and other countries where gold and the proceeds of its commerce are laundered.

LTRC will continue engaging with international, subnational, and local organizations to understand better and identify opportunities to combat the challenge of IFFs and corruption more broadly through research, engagement strategies, and/or specific initiatives. We welcome interested organizations to connect with us by emailing LTRC@brookings.edu.

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Trump’s Return: A Shift in Global Dynamics

News by AUN News correspondent Friday, November 07, 2024 AUN News –...

AUN Advances Regional Cooperation and Urban Sustainability in November 2024

News by AUN News correspondent Friday, November 01, 2024 AUN News –...

Preserving History: Shivaji Maharaj’s Artifacts Take Center Stage in New Delhi

News by AUN News Editorial desk Saturday, October 26, 2024 AUN...