To combat the growing challenges of gold laundering and counterfeiting, the London Bullion Market Association (LBMA) has implemented a groundbreaking digital tracking system. The Gold Bar Integrity Database aims to prevent illicit gold from criminal gangs and conflict zones from infiltrating bank vaults, while also stopping the circulation of counterfeit bars bearing major refineries’ logos. According to LBMA CEO Ruth Crowell, this initiative responds to increasing market demand for transparency and helps participants meet global sanctions requirements. The system will begin by monitoring LBMA-accredited refiners and London gold vaults, managed by major institutions like JPMorgan Chase and Brink’s Co., which currently store approximately 695,000 gold bars valued at over $700 billion.