“Secretive”, “opaque”, “unscrupulous”, “shady” and “tailor-made for money laundering” are just some of the ways in which the art market is described in the press. … Read More »The Art Market is Susceptible to Whistleblower Claims. Is it Paying Attention?
Earlier this year the Chancellor unexpectedly announced the Government’s intention to impose an anti-money laundering levy on banks, insurance companies, law firms and all other… Read More »Economic Crime Levy – a significant blow for the British art market on the horizon?
Introduction On 10 January 2020, the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (Regulations 2019) came into force in the United Kingdom. Regulations 2019… Read More »Anti-Money Laundering – What has changed
Anti-money laundering laws in the UK are largely outlined in the Money Laundering Regulations 2017 (“Regulations 2017”). The Regulations 2017, which came into force on… Read More »New Anti-Money Laundering Regulations Target the Art Market
Introduction The UK Money Laundering Regulations 2017 (“Regulations 2017”) which implement the EU’s Fourth Money Laundering Directive (“4MLD”) came into force on 26 June 2017,… Read More »The UK Money Laundering Regulations 2017: key changes and impact for art businesses
Certain types of businesses fall within the regulated sector for EU anti-money laundering, such as banks, wider financial institutions, law firms, accountancy businesses and estate… Read More »The Regulation of the Art Trade for Anti-Money Laundering in the EU
Since 1 January 2016, art collectors and art businesses dealing in art, or storing art, in Switzerland must comply with new anti-money laundering and terrorist… Read More »Switzerland revisits laws on anti-money laundering and terrorist financing