Bribery, corruption and fraud are just a few of the predicate money laundering offenses which are patently illegal in virtually every part of the world. The impact of trillions of dollars of dirty money, derived from many types of illegal activities, produces a litany of harmful outcomes that devastate... Read More...

Antwerp’s Dexia bank has informed its diamond clients that it is withdrawing from the diamond financing business. In a letter to its clients, Dexia states that its decision "is based on several elements related to the financing of the diamond sector." One of the elements, we learned, is related... Read More...

“Why are you keeping silent about the GIA certification scandals – are you scared?” This is only one of a few similar e-mails in my inbox. Scared? No. “Reluctant” probably describes it better. I vividly remember (no pun intended) that a few years ago, when preparing a story on the... Read More...

When governments enact laws, one must expect and assume that these serve the best interests of the people affected by these laws. The latest draft of the Diamond Amendment Act in South Africa contains some provisions which make considerable sense – and others one could take issue with. What may be difficult to... Read More...

Last week we commented on the decision-making process that led to the appointment of Varda Shine as Managing Director-designate of the DTC. We didn’t say much about the “other big story”, the move of the DTC Executive Director for Marketing, Stephen Lussier, to the Board of De Beers. It’s amazing how... Read More...

If De Beers were still a public company, the announcement of the appointment of Varda Shine as Managing Director of the DTC would have been a reason to conduct a “road show” among shareholding financial institutions, an opportunity to make a “buy” recommendation for the company shares, and an opportunity to stress that Read More...

The South African diamond industry finds itself under a cloud of uncertainty – waiting almost a decade for a new diamond law to be enacted. The “old law”, the Diamond Act of 1986, became unconstitutional in the mid 1990s, when the Apartheid state collapsed and democracy was introduced. The current Act limits the possession of... Read More...

Charles Wyndham calls him Bonaparte, or, in a more friendly manner when in a good mood, just “Boney”. To me it has always been Martin Rapaport or “Mike” – I refrain from referring to him as “Rap” as this creates confusion as to whether it refers to a person or a written table. But today... Read More...

“Defending a reputation starts with thinking the unthinkable and then planning for that eventuality.” That’s nicely said in an academic context. The question, which the media giant VNU’s managers must have asked themselves over and over again in the past week, is how do you prevent managers making stupid decisions which... Read More...

The American Civil War and the Sierra Leone Civil War have something in common: they were tragic, and many innocents were killed -- but they are both history. After the hostilities, the peoples united – determined to build a better future for all. Read More...