AML Archives - ArtAML

Supervised Business Register (UK): Is your/another business registered as an Art Market Participant to legally transact?

Mar 5, 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...

High-risk jurisdictions for Art Market Participants: What’s the latest update?

Jan 16, 2025 | Guidance

The Financial Action Task Force (FATF) updated the list of high-risk countries (i.e., high-risk third countries, known as HRTCs) in October 2024. In response to that, HM Treasury in the UK published an update.The U.S. has continued to keep the sanctions program and...

How penalties are calculated for late registration as an Art Market Participant

Dec 5, 2023 | Guidance, News, UK

A new financial reality for some Art Market Participant (“AMP”) businesses in the UK is paying a penalty for late AMP registration with HMRC, the regulator. While unregistered businesses might want to avoid such a fine, the reality is that it is illegal to...

Introducers vs. Intermediaries: Are you caught as a UK Art Market Participant?

Feb 10, 2023 | Guidance

Do you think that you – or a colleague, are not caught as an Art Market Participant (“AMP”) because you or they are only acting as an introducer in transactions? If taking an active role, including an introductory one, and receiving financial value,...

Do non-UK art businesses need to register for UK-based AML Supervision if transacting at art fairs?

Oct 11, 2022 | Guidance

Think that anti-money laundering that has hit the art sector doesn’t apply to your business, as you’re an overseas dealer presenting at a UK fair? Think again – including if you’re based in the European Union. The downloadable guide provided in...