Jul 13, 2021 | Guidance, Knowledge Base
Risk guidance published by HMRC (June 2021) highlights the importance of identifying if funds have come from a high jurisdiction. Why is this important? According to the risk guidance: Such locations are “more likely to be linked to money laundering and...
Jul 2, 2021 | Guidance, Knowledge Base
Many Art Market Participants are being asked to register people in the business they didn’t know were subject to the regulations. This screenshot from an Art Market Participant registration page on gov.uk provides important insight (see more tips below): What...
May 27, 2021 | Guidance, News, Press
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....
May 13, 2021 | Guidance, Knowledge Base
If you’re subject to anti-money laundering (AML) legislation, you’re required to take steps that will raise red flags to signal the possibility of your business being the target of money laundering activities. The level of compliance checks undertaken will depend on...
Apr 6, 2021 | Guidance, News, Press
What a difference a global sensation can make: ‘NFTs’ (non-tangible tokens) have gone from a relatively obscure acronym to a 24/7 obsession in the art world and beyond. While interested observers struggle to come to terms which what NFTs actually are and...
