UK Criminals Turn To Gold Bars To Launder Drug Money, Evade Detection

HomeNews* UK criminal groups are increasingly turning to Gold to hide drug trafficking profits.

• Gold’s portability, high value, and lack of traceability make it appealing for money laundering.
• Authorities have found cases of gangs using gold coins, bars, and grain to store and move illicit funds.
• Experts note a lack of hard data supporting a rising trend, citing mainly anecdotal evidence.
• Gold is harder for law enforcement to track than cryptocurrency, but riskier to move in large amounts. Organized crime groups in the United Kingdom are using gold as a tool to move and conceal the proceeds of illegal drug activities. Criminals choose gold because it is easy to transport, holds significant value in small amounts, and is difficult for authorities to track.

• Advertisement - Recent reports describe specific incidents in which UK police uncovered stashes of gold related to drug trafficking. In one 2024 case, law enforcement found about $32,400 in gold coins in a safe belonging to an Essex drug dealer. Another case in 2022 involved a Birmingham gang converting $135,100 from drug sales into gold bars. In Bradford, police convicted gang members in a large-scale operation that laundered nearly $359.4 million by purchasing gold grain, which was then sent abroad.

Legal consultant Gary Carroll explained that gold lets criminals compress large amounts of cash into a discreet form. He said, “Gold lets criminals reduce $13,000 of drug money into an object they can fit in the palm of their hand. The other benefit is gold tends to appreciate in value.” Carroll also pointed to the move toward a cashless society as a factor in the switch to gold.

However, experts highlight the lack of extensive data showing a dramatic increase in this trend. Only a few cases over the past three years are cited, and official statistics tracking the criminal use of gold remain rare. Ari Redbord of TRM Labs stated, “It’s hard to quantify, because gold doesn’t move on a blockchain. The very reason criminals use it is because it’s opaque.” He confirmed that gold’s untraceability is attractive, though it is bulkier and riskier to move than digital assets.

While cryptocurrency can be tracked through blockchain analysis—unless privacy tools or mixing services are used—gold transactions do not leave a digital trail. Law enforcement finds it more difficult to recover stolen funds hidden in gold than crypto.

Reports from U.S. agencies, like Treasury’s risk assessments, have also identified gold as a method to evade sanctions and launder money. Experts expect gold to remain part of criminal money laundering schemes even as criminals use new technologies and cryptocurrencies for illicit transactions.

For more details on recent gold prices, see the price of gold, and for referenced incidents, visit Essex Police, Express & Star, and West Yorkshire Police.

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