How do you conduct AML at an art fair?

Sep 16, 2022 | Guidance

Before anti-money laundering became a reality for art businesses, ArtAML™ founders Susan J Mumford and Chris King were asking and addressing the question. Such events can be a crucial activity for galleries and dealers (see the Art Basel annual reports for statistics...

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...

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...

Who needs to register as a ‘responsible person’ with HMRC?

Jul 2, 2021 | Guidance

Many Art Market Participants are being asked to register people in the business they didn’t know were subject to the regulations. This screenshot from an Art Market Participant registration page on gov.uk provides important insight (see more tips below): What...