All that glitters isn’t gold. This includes gold — and other precious metals, stones and jewels that are sometimes used to launder the “dirty” proceeds of criminal activities such as drug trafficking and terrorism. But several U.S. laws and regulations target these international money-laundering operations. Good as gold Precious metals, stones and jewels make ideal vehicles for money laundering for several reasons: Ownership and control. Precious metals are bearer instruments, meaning that like cash, the individual in possession of the precious metal owns and controls it. Readily transferable. There’s an active, global market that enables criminals to trade them. Because precious metals have many legitimate uses, criminals often can move them without attracting attention. Relatively stable. Although the price of precious metals fluctuates like those of any commodity, the value...