ART WORLD OFFERS CONDUIT FOR MONEY LAUNDERERS
March 1st, 2013
Money laundering takes place in the arts world and much of it at auctions, only the arts world doesn’t like to talk about it much. And anti-money laundering (AML) experts understand the methods used. At a Paris conference held last February (2012) by the Syndicat National des Antiquaires (the French national union of antique dealers) the director of the l’Institut de Criminologie de Paris, Philippe Conte, explained how launderers would put a work up for auction, to be bought by an accomplice in cash using dirty money. The seller received a cheque from the ...
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