Archive for the ‘Guinea Gold & Diamond Scam’ Category

OECD Due Diligence Guidance for
Responsible Supply Chains of
Minerals from Conflict-Affected and
High-Risk Areas
Final draft Supplement on Gold
v. 3.0

This Supplement on Gold forms an integral part of the OECD Due Diligence Guidance for Minerals from Conflict-Affected and High-Risk Areas. The Introductory section of the Guidance as well as Annex I (Five-Step Framework for Risk-Based Due Diligence in the Mineral Supply Chain), Annex II (Model Supply Chain Policy for a Responsible Global Supply Chain of Minerals from Conflict-Affected and High-Risk Areas) and Annex III (Suggested Measures for Risk Mitigation and Indicators for Measuring Improvement) applies to the Supplement on Gold. Therefore the term “Guidance” may be used throughout this Supplement to refer to both this Supplement on Gold as well as the OECD Due Diligence Guidance for Minerals from Conflict-Affected and High-Risk Areas.
This Supplement provides specific guidance on supply chain due diligence of gold from conflict-affected and high-risk areas according to the different positions of companies in the gold supply chain. It distinguishes between the roles of and the corresponding due diligence recommendations addressed to upstream companies and downstream companies in the supply chain (see Definitions), and includes, where necessary, specific recommendations to the specific actors within those two broad categories.Companies falling into these categories should carry out due diligence regardless of whether they own, lease or loan the gold.
This Supplement focuses on the steps companies should take to avoid contributing to conflict and serious abuses of human rights in the supply chain of gold potentially sourced from conflict-affected and high-risk areas. This Supplement includes due diligence measures to be taken on recycled/scrap or previously refined gold (“Recyclable Gold”) only insofar as recycled material is a potential means of laundering gold that has been mined in conflict-affected and high-risk areas in order to hide its origin. Gold investment products (ingots, bars, coins, and grain in sealed containers) held in bullion bank vaults, central bank vaults, exchanges and refineries with a “verifiable date”1 prior to 1 January 2012 will not require information on their origin (“Grandfathered Stocks”). However, gold investment products will require “Know Your Counterparty” due diligence to ensure the trade in Grandfathered stocks is not carried out in violation of international sanctions or does not enable money-laundering resulting from, or connected to, the sale of gold reserves in conflict-affected and high-risk areas.
In order to determine the applicability of this Supplement, all companies in the gold supply chain should carry out Step 1 (Establish strong company management systems) and begin Step 2 (Identify and assess risks in the supply chain) to determine whether they actually or potentially source gold from conflict-affected and high-risk areas. The remainder of the Steps in this Supplement will then only apply to companies sourcing gold from conflict-affected and high-risk areas and actors in the gold supply chain that operate in a conflict-affected or high-risk area………………kindly download the document for indepth information on the sameOECD Gold guidance supply chains 2012

**Please note Anil Machado’s blog or Anil Machado does not sell gold,diamonds or any other commodity. Incase if you received any private message or email claiming to be Anil Machado then beware its some scammer trying to use a different method to cheat you.


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Today gunmen in Timbuktu, Mali have kidnapped three Europeans and killed the fourth one who tried to resist.  The fourth one killed was German national. Yesterday two French nationals were kidnapped in the same remote region. The attackers paid off the security forces put up roadblocks and set off in pursuit. Europeans and other nationals are lured by phishing emails to get attracted to buy cheap Gold and Diamond in Mali, Guinea, Burkina Fasso, Ghana, Niger, Mauritania, Ivory Cost, Sierra Leone, Cameron and Senegal. Buyers often fall into such traps and easily get convinced by fake documents submitted to them by scammers in west Africa. The scammers in west Africa will also phone the buyers in their respective countries and speak at length in order to convince the buyers that they are real.

Last year there has been reported at least 8 kidnappings in Mali and several others in other west african countries and these kidnappings were all in the sake of selling cheap gold dust / gold dory bars and rough diamonds.

We have warned readers across several times through our blog to beware of such scammers. Some of our regular readers who have been valuable contributors have also been adding some process and procedures which they have gained through years of experience.

Last week two French geologists who had been near the border of Burkina Fasso were kidnapped and there is no trace of them. In these countries there is a huge conflict on the natural resources and unstable government. Law and order is at its least and government officials can be paid by these scammers in order to avoid any punishment. Once you land in these countries, security is a big concern and if you are carrying cash and valuables you can only be saved by God, but in this matter even God can’t do much.




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