A New York Times investigation found that the US Mint has been purchasing gold originating from Colombian drug cartels and armed groups, which is laundered through intermediaries and enters the supply chain as ostensibly American gold. The Mint exploits a 20-year-old loophole that allows foreign gold to count as domestic if offset by US purchases—a practice federal watchdogs documented but never enforced. Treasury Secretary Scott Bessent says he will review the Mint's sourcing standards, which have now been tightened. Colombia exported roughly $1.5 billion of its $4.1 billion in annual gold to the US, making it the largest destination, and over 80% of US financial institutions face exposure risk to illegal gold according to a World Wildlife Fund report.