A new report says that the United Arab Emirates remains a key destination for gold smuggled from conflict zones despite new regulations on the trade. Switzerland-based aid group Swissaid found that in 2024, the UAE imported at least 591 tons of illicit gold, valued at $74 billion. Many gold refiners and traders in the UAE are not following the rules and enforcement is lax, according to the report. The report recommended that the UAE be added to an international watchlist for possible financial wrongdoing. Much of the gold went to Switzerland. Neither the UAE nor Switzerland responded to requests for comment on the report.