Diamonds supplement Barter Units of Money. By GEOFF WILKINSON 28jan02 DIAMONDS are not just a girl's best friend, according to a new report by the Australian Institute of Criminology. They are also highly desirable to organised crime figures who use them as currency in a range of illegal activities. The report's author, research analyst Rebecca Tailby, said it was estimated that between 1 and 14 per cent of Australia's diamond production was lost to illegal activity. In the case of WA's Argyle mine, the country's biggest producer, that could involve more than $100 million worth of diamonds a year. Ms Tailby said it was estimated 20 per cent of the world's rough diamond trade was illicit. AIC director Dr Adam Graycar said yesterday the illicit diamond trade had been linked to money laundering, the arms and drug trades, connected to civil war and even to international terrorism and people smuggling. Ms Tailby said crime syndicates tried to plant workers in mines to skim diamonds, or aimed at existing employees. Diamonds were an ideal currency for organised crime because they were small and easy to smuggle, as well as durable, easily exchanged for other commodities and virtually untraceable in polished form. She said Australian producers had really lifted their game in the area of security. The use of technology to thwart diamond thieves and improved screening of workers had helped address the problem. The Argyle mine is the largest single source of diamond production in the world.
