Over 15% of global gold production exits mines not as polished bars, but as fine concentrate—a grey powder that's nearly impossible to track. The problem? As gold prices climb, these concentrates have become a favorite tool for washing illicit money and financing criminal networks.

The lack of transparency in physical commodity trading creates massive blind spots. Unlike blockchain-based assets, gold concentrate moves through traditional supply chains with minimal oversight. Regulatory agencies struggle to monitor flows, making it a perfect vehicle for moving dirty money across borders.

This isn't just about precious metals. It's a wake-up call for the entire financial system. If we can't properly track tangible commodities in 2025, what does that say about our ability to prevent financial crimes at scale? The crypto industry has been criticized for money laundering risks—yet traditional finance has equally troubling gaps that few talk about.