AMP Archives - Page 3 of 4

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...

The Art Newspaper: Overseas AMPs are not immune to AML laws at UK fairs

Oct 5, 2021 | News, Opinion, UK

Paula Trommel, deputy director of Corinth Consulting, directs a warning to overseas galleries and art advisors as activity in the London art market ramps up – via The Art Newspaper. As the industry attempts to resume to its pre-pandemic glory with the return of...

Customer due diligence and reliance: Important clarity from HMRC to support your compliance

Sep 16, 2021 | Guidance

In June 2021, HMRC published risk guidance for the UK art market. Amongst other points, they outlined what is – and importantly isn’t, intended by relying on other Art Market Participants (AMPs) in transactions. Attaining this understanding is vital to...

HMRC’s risk guidance for the art market: A must-read

Sep 16, 2021 | Guidance, Policy + Consultations

HMRC as the UK’s regulator for money laundering has published risk guidance. The findings are the result of getting to know specific situations faced by the industry. The publication presents two tables that show: > Risks common to all Art Market...

Might you (unknowingly) be an Art Market Participant?

Aug 18, 2021 | Guidance

There are many individuals dealing in art who don’t yet realise that they’re Art Market Participants (“AMPs”) according to the Money Laundering Regulations (UK). Some surprising yet frequent examples include:- Interior designers- Art advisors / consultants whose...