TAINTED TREASURES: MONEY LAUNDERING RISKS IN LUXURY MARKETS

This is a Transparency International report from April 2017 which says that large-scale cases of grand corruption in recent years have involved the acquisition of luxury property, vehicles and goods.  This report examines the risk of luxury goods and assets being used to launder the proceeds of corruption, including in the art world and the marketplaces for superyachts, precious stones and jewels, high-end apparel and accessories, and real estate.  The report laments that much remains to be done to reduce the scope for individuals using the proceeds of corruption to acquire and enjoy high-value goods and property, and to use these assets as a vehicle for laundering their ill-gotten gains.

https://www.transparency.org/whatwedo/publication/tainted_treasures_money_laundering_risks_in_luxury_markets

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s