aml policy Archives

HMRC’s message to Art Market Participants: Key changes in the updated BAMF Guidance (2022)

Sep 21, 2022 | Guidance, Policy + Consultations

The British Art Market Federation (“BAMF”) Guidance was updated for UK Art Market Participants (“AMPs”) on 30th June 2022. HM Revenue & Customs (“HMRC”) as regulator sent an email update with key changes to AMP businesses registered for supervision. The list of...

Risk Assessment and AML Policy: A legal requirement for Art Market Participants

Aug 24, 2022 | Guidance

In our view, the intention of AML legislation is two-fold:1 – Preventing your business from being the target of money laundering / terrorist-financing activities; and2 – If your business is targeted, being able to identify it (and thereby report it to...