In 2013 and so far in 2014, there has been a significant increase in seizures of imported gold shipments, and arrest and criminal prosecution of persons involved in the importation, transportation, assaying, and smelting of gold. U.S. Customs and Border Protection (CBP) routinely examine, and sometimes seize, gold as it is imported into the United States, for violations of false declarations (18 USC 542). Immigration and Customs Enforcement (ICE) Special Agents with the U.S. Department of Homeland Security (DHS) often investigation, and sometime arrest, persons in the gold business for smuggling (18 USC 545) and money laundering (18 USC 1956).
I will provide a description and explanation for the U.S. Government's sudden, keen interest in precious metals, especially gold, at the annual meeting of the International Precious Metals Institute's annual conference in Orlando, Florida, on June 7-10, 2014. We will discuss what ICE calls "trade-based money laundering", and how to avoid problems with both CBP and ICE.
Contact me with any questions or post a comment below.
Peter Quinter, Chair
Customs and International Trade Law Group
GrayRobinson law firm
1221 Brickell Ave.
Miami, Florida 33131
office (305) 416-6960
mobile (954) 270-1864