May 12, 2025 | Guidance, UK
Find out if your business or a colleague with whom you’re doing business has successfully registered for Money Laundering Supervision. Why is checking the Supervised Business register important? Download the latest Register of Supervised Businesses (published by...
May 1, 2025 | EU, Guidance, UK
As an art market participant, you are required to complete due diligence checks on any cumulative transactions (including VAT and additional fees) that meet or exceed the threshold of 10,000 EUR. As the currency conversion between EUR and GBP fluctuates over time, we...
May 1, 2025 | EU, Guidance, UK
Updated 5th March, 2025. The transaction value that triggers the need to conduct Customer Due Diligence is €10,000 (unless there’s potentially suspicious activity, in which case value is irrelevant). This presents a challenge to UK businesses, as a conversion...
Sep 26, 2024 | News, UK, USA
As we celebrate our sixth birthday this month, we take a look at the changing landscape of AML in the art market. This considers two aspects for each year covered: 1) legislation and implementation; and 2) our evolution to meet needs. 2018 Legislation and...
Apr 29, 2024 | EU, News, UK, USA
The 50 percent rule means that if a company is at least 50% owned by a financially sanctioned individual or entity, it is illegal to transact with that company. This is regardless of the value of a transaction or what product or service is being sold. Background...
