Very true.

Diamonds are vital to money laundering.

https://en.wikipedia.org/wiki/De_Beers

The company was founded in 1888 by British businessman Cecil Rhodes, who was financed by the South African diamond magnate Alfred Beit and the London-based N M Rothschild & Sons bank.[6][7] In 1926, Ernest Oppenheimer, a German immigrant to Britain and later South Africa who had earlier founded mining company Anglo American with American financier J. P. Morgan,[8] was elected to the board of De Beers.[9] He built and consolidated the company's global monopoly over the diamond industry until his death in 1957.

u/#q3675

This is a picture of the Billiard Palace Hotel which is located in the heart of the diamond district (by Central station) in Antwerp, Belgium where 86% of all the world's diamonds go at one point or the other.

https://en.wikipedia.org/wiki/Antwerp_diamond_district

It is the heart of the diamond trade.