EDITOR NOTE: Similar to physics, where dark matter makes up a significant part of the universe though we can’t really see it, the black market makes up a significant part of the global GDP. In the US alone, the black market in 2018 was estimated to be as high as $2.46 Trillion, or up to 12% of GDP. Illegal transactions tell us something important--it tells us something about real demand beyond the scope of legality and social norms. This is important information, as it helps us gauge the products that people need, to the extent of breaking the law. This, in turn, helps us analyze the conditions that may be leading people toward criminal action (another complex topic that’s too large a scope to discuss here). In some countries, gold smuggling is part of the black market economy. What does that tell you about the value of and demand for gold, something that mainstream belief writes off as a mere historical relic?
The Air Intelligence Unit (AIU) of Mumbai customs intercepted two passengers arriving from Dubai while concealing gold dust totally valued at ₹58.44 lakh.
The AIU seized a quantity weighing 1,439 grams. This is the latest in a string of smuggling cases detected at the Chhatrapati Shivaji Maharaj International Airport (CSMIA).
The gold dust is difficult to trace in handheld detectors and scanners. Hence, smugglers are trying to sneak in the precious metal in its dust form. The recovered gold dust was seized under the reasonable belief that the same was attempted to be smuggled in India and, hence, liable for confiscation under the provisions of the Customs Act.
Sources revealed that cases are being detected as smugglers are trying to take advantage of the COVID-19 pandemic. Earlier, this month, the customs intercepted three passengers carrying 2,175 grams of gold dust valued at ₹90.57 lakh. AIU has increased vigil at the city airport, as smugglers are trying to sneak in the precious yellow metal while taking advantage of the pandemic. In most of the cases, the gold dust is concealed inside the body and it is the skill of the officers to detect.”
Originally posted on Free Press Journal