Feb 6, 2022 | Guidance, Industry consultations, News, Opinion, Policy + Consultations, USA
At last, the findings from the 2021 U.S. study on the potential application of anti-money laundering in the art sector have been published. This article accordingly highlights top-level insights from the U.S. Treasury’s 40-page ‘Study of the Facilitation of Money...
Feb 6, 2022 | Guidance, Industry consultations, Policy + Consultations, UK
An early attempt at highlighting vulnerabilities the art market faces of financial crimes was included in the National Risk Assessment 2020 (UK). ArtAML was involved as a key stakeholder, and we therefore understand the challenges that were faced in presenting...
Nov 4, 2021 | Guidance, Knowledge Base, UK
Find out if your business – or a colleague with whom you’re doing business, has successfully registered for Money Laundering Supervision. Why is this important? For businesses with a UK operation: You need to be an approved Art Market Participant with HMRC...
Sep 16, 2021 | Guidance, Knowledge Base, UK
In June 2021, HMRC published risk guidance for the UK art market. Amongst other points, they outlined what is – and importantly isn’t, intended by relying on other Art Market Participants (AMPs) in transactions. Attaining this understanding is vital to...
Sep 16, 2021 | Guidance, Knowledge Base, Policy + Consultations, UK
HMRC as the UK’s regulator for money laundering has published risk guidance. The findings are the result of getting to know specific situations faced by the industry. The publication presents two tables that show: > Risks common to all Art Market...
Sep 15, 2021 | Guidance, Knowledge Base, UK
If you were thinking that reading AML guidance was enough to satisfy the requirement to have training, think again. Continuing to trade at the level of 10,000+ Euros as an Art Market Participant business carries serious responsibility in the modern marketplace. Of...
