anti-money laundering Archives

How AML compliance has changed for art businesses : 2018-2024

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...

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...

The Art Law Podcast – Anti-Money Laundering Update: FinCEN’s Surprising Conclusion and the Impact of Russian Sanctions on the US Art Market

Apr 1, 2022 | News, Opinion, Our solution, UK, USA

ArtAML Co-Founders Susan J Mumford and Dr Chris E King returned to the Art Law Podcast to discuss the surprise decision of FinCEN to not regulate AML in the art market (yet), and the immediate impact of Russian sanctions for the U.S. art market. Listen to the...

When will the U.S. art market be regulated for AML? The U.S. Treasury findings released: Study of the Facilitation of Money Laundering and Terror Finance Through the Trades in Works of Art

Feb 6, 2022 | Guidance, Industry consultations, News, Opinion, Policy + Consultations, USA

At last, the findings from the 2021 U.S. study on the potential application of anti-money laundering in the art sector have been published. This article accordingly highlights top-level insights from the U.S. Treasury’s 40-page ‘Study of the Facilitation of Money...