The Center for Art Law has released the second edition of its comprehensive Anti-Money Laundering Study for Art Market Participants, marking a significant expansion of this essential resource for the global art trade. Published in October 2025, the study has grown from 16 jurisdictions and 78 pages in its 2023 debut to 28 countries and over 200 pages in this latest edition.
The study provides detailed, jurisdiction-by-jurisdiction analysis of AML regulations affecting art market participants worldwide, offering practitioners a practical reference for understanding compliance obligations across different markets. Each country section addresses key questions about regulatory frameworks, licensing requirements, due diligence obligations, reporting thresholds, penalties and enforcement practices.
New jurisdictions and expanded coverage
The 2025 edition adds 12 new jurisdictions including Argentina, Bulgaria, Croatia, Denmark, Finland, Greece, India, Mexico, Poland, Portugal, Romania and Ukraine. These additions reflect the increasingly international nature of both the art market and the money laundering risks it faces. The study also features updated information for the 16 jurisdictions covered in the first edition, accounting for regulatory changes and evolving enforcement practices over the past two years.
Our contribution: Portugal section
Our CEO and co-founder Susan J Mumford authored the Portugal section for this edition. This is particularly relevant as an EU member state implementing the bloc’s harmonised AML framework. The section covers Portugal’s registration requirements, customer due diligence thresholds, beneficial ownership rules and the role of supervisory authorities in enforcing compliance.
A collaborative effort
The study represents an impressive collaborative effort, drawing on the expertise of volunteer attorneys, academics and compliance professionals across 28 jurisdictions. The Center for Art Law coordinated contributions from leading practitioners in each country, ensuring the information reflects current regulatory realities and enforcement trends. The result is an invaluable resource for Art Market Participants and their professional advisors navigating the complex landscape of international AML compliance.
As the regulatory environment continues to evolve with initiatives like the EU’s AMLA and increased enforcement across jurisdictions, resources like this comparative study become increasingly essential for art market participants operating across borders.
Further reading
- The full study is available for download at the Center for Art Law’s website: https://itsartlaw.org/reports/aml-and-the-art-market-study-2025-edition/
- Direct link to the study: https://drive.google.com/file/d/1OChATYCeXCRlHrc7rARQKB1jC5pjcBZs/view?usp=sharing