(idexonline.com) - Diamonds may be a girl's best friend, but they can also be a criminal's. There are so many different ways to exploit rough or polished gems, at so many points along the pipeline. But are banks and financial institutions using an over-sized hammer to crack a medium-sized nut by imposing a blanket set of AML (anti-money laundering) rules on all diamond traders - and beyond - with little regard for the welfare of the many innocent parties who suffer as a result? The European Banking Authority (EBA), a Paris-based arm of the EU, seems to think so. In a legal opinion published earlier this month it suggested they'd gone too far in closing the door to entire sectors - not just diamonds but also gambling operators, FinTech firms and even embassy staff. And it warned that the rush by banks across Europe to de-risk could actually prove to be counter-productive, leading to the creation of a shadow financial system that is actually harder to regulate.
News
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
Today
South Africa mining output falls 12.7% in August on weak PGMs, coal and iron ore
South Africa's mining output declined 12.7% year-on-year in August, according to Statistics South Africa, with platinum group metals, coal, and iron ore accounting for the largest negative contributions.
Today
Aterian expands copper footprint at Azrar project in Morocco
Aterian has identified multiple copper showings and substantially expanded the known mineralisation footprint at the Amane Target of its 85%-owned Azrar Copper-Silver project in Morocco, following initial exploration fieldwork.
Today
Russia’s Ministry of Natural Resources identifies region with largest platinum and palladium deposits
Russia retains second place globally in terms of platinum and palladium reserves, while the largest deposits of these metals are concentrated in Krasnoyarsk Territory, according to the Russian Ministry of Natural Resources.
Today
Tharisa meets FY2026 guidance, Karo Platinum fully funded as net debt swings to $51m
Tharisa has reported full-year production in line with guidance for both platinum group metals (PGMs) and chrome concentrates, while confirming its Karo Platinum project in Zimbabwe is now fully funded following a $300 million bond issue.
Yesterday
