Conflict diamonds seized in India

Custom officials in India reported seizing 48,600 crates of conflict diamonds in Surat and Mumbai in 2011. The crates of diamonds did not have the proper Kimberly Process Certification and was believed to have been smuggled out of Zimbabwe. The diamonds were worth $1.75 Million.

Up to $1 Billion in potential diamond revenue is smuggled out of Zimbabwe each year.

10 out of 11 diamonds sold around the world are cut in India.

Source:  Pradeep Thakur, “Conflict diamonds’ entry to India raises money laundering fear,” Times of India, June 26, 2012.