Report Links Brazilian Diamond Industry to Fraud, Tax Evasion, Money Laundering

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Monday, May 1, 2006
Author: 
Jed Borod
Volume: 
22
Issue: 
5
Abstract: 
In March 2006, Canadian non-governmental organization Partnership Africa Canada (PAC) released Fugitives and Phantoms: The Diamond Exports of Brazil, a report accusing the Brazilian government of failing to ensure the integrity of its Kimberley Process implementation for diamond production and export. According to PAC, as a result of administrative failures in the Brazilian government, “nearly 44% of Brazil’s diamond production came from fraudulent or deeply suspect sources.”