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Precious metals: gold fraud in Burkina Faso, validation of a strategy to combat the phenomenon

28/11/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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The Burkina Faso Ministry of Mines and Energy reported that around 9 to 25 tons of gold are subject to fraud every year in the country. It has therefore validated a strategy to combat the phenomenon

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The mining sector contributed more than 430 billion CFA francs (717 million dollars) to the Burkinabe state budget in 2021 and more than 275 billion CFA francs (459 million dollars) in 2019. Unfortunately, the extent of fraud in the marketing of gold and other valuable substances is an obstacle to the sector's contribution to the State budget. According to the director general of the National Anti-Fraud Gold Brigade (BNAF), Aboubacar Sawadogo, the national strategy to combat gold fraud, money laundering and the financing of terrorism in the mining sector and its action plan aim to overcome this problem

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