NewsNovember 02, 2026Correcting False Information: New York Times ArticleOn 19th October the New York Times (NYT) published the article ‘How a Trillion-Dollar Industry Launders Illegal Gold’, written

AI desk brief

LBMA issued a correction to a New York Times piece on alleged illegal gold laundering, saying the article contained several inaccuracies about LBMA and Istanbul Gold Refinery (IGR). LBMA said it had provided the reporter with detailed background, that there was one independent assurance engagement covering IGR’s FY2023, and that the assurance statement was not backdated or altered; the additional text in IGR’s compliance report was added to improve transparency and did not change the report’s conclusion.

The association said the assurance review found non-conformances, but none were zero-tolerance issues, and a corrective action plan was implemented in line with LBMA and OECD responsible sourcing guidance. LBMA reiterated that it is not a regulator, does not control mines or miners, and generally prefers continued engagement and monitoring over disengagement unless risks cannot be mitigated.