ST. JOHN'S Antigua, June 27th, 2012 -- Sen. the Hon. Dr. L. Errol Cort, Minister of National Security and Labour, and several high ranking members of the Royal Police Force of Antigua and Barbuda recently met with key stakeholders in the “Cash for Gold” business to discuss the challenges being posed to law enforcement officials from the operations of this “new” industry.
Minister Cort, in addressing the group, candidly expressed his concerns regarding the spike in robberies involving items of gold and silver. He indicated the need for a strong working relationship between these businesses and law enforcement officials, in the absence of legislation.
He called for the implementation of more stringent controls and self-imposed regulations for the better management of that type of business activity, pending the passage of appropriate legislation to regulate the operations.
The discussions between the parties were cordial, with the stakeholders promising full cooperation with the police. To this end, it was agreed that a standardized form will be designed and utilized by all persons or entities operating in the Cash for Gold business.
This form will be used when transacting any sale or purchase of gold or silver and will require that detailed information is obtained, including the seller’s name and address as well as the presentation of a photo ID.
In cases where receipts exist, persons will be asked to present them as proof of ownership of the item, or in the absence of receipts, credible evidence demonstrating how ownership of the item was derived, will be mandatory. It was also agreed that items to be melted will have a waiting period of a minimum of three days, as businesses would be required to first photograph the item and have it vetted by police to ensure it has not been reported lost or stolen.
The discussions also identified another aspect affecting the industry. Stakeholders pointed out that persons arriving from other countries were going door to door, knocking on homes and offering cash for jewelry.
The stakeholders pointed out that this activity was giving bona fide “Cash for Gold” businesses a bad name and was of major concern. Minister Cort said that the police will be stepping up their surveillances in an effort to curtail this type of activity.
The Ministry of National Security through the Police and Immigration Department will work with the ONDCP and the Customs Department to identify and bring these perpetrators of this illegal activity to justice.
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