In June 2019, ArtAML Co-Founders Susan J Mumford and Dr. Chris King participated in the HM Treasury Consultation for the Transposition of the 5th Money Laundering Directive into UK law. In the official response, they asked for clarity about the situation for artists.
Nearly two years later, we have an official answer: Artists are not caught.
HM Treasury have confirmed that artists – persons who create original art – do not fall under the scope of the Anti Money Laundering Regulations.
– Andrew Henderson, Economic Crime Supervision, HMRC
How are industry and specialist providers responding? Anna Brady of The Art Newspaper spoke with our CTO and Co-Founder Dr. Chris King.
Read the full piece, published 26th May 2021.
**UPDATE** The following message was sent by email from HMRC on 2nd June 2021 to clarify the situation for artists: