US TREASURY RELEASES STUDY ON ILLICIT FINANCE IN THE HIGH-VALUE ART MARKET

On 4 February, the US Treasury released this report, a study on the facilitation of money laundering and the financing of terrorism through the trade in works of high-value art.  It examines art market participants and sectors of the high-value art market that may present money laundering and terrorist financing risks to the US financial system, and identifies efforts that government agencies, regulators, and market participants could undertake to further mitigate the laundering of illicit proceeds through the high-value art market in the US.

https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf

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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

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