CONCERN GROWS ABOUT DIRTY MONEY IN THE GLOBAL ART TRADE
February 1st, 2019
THE GLOBAL art trade’s exposure to abuse by money launderers is to come under scrutiny as the European Union (EU) countries have started adopting the 5th EU anti-money laundering directive (EU 2018/843 – 5AMLD), which brings cultural artefacts trading under AML controls. In the US, such abuses of the trade may also come under regulatory control this year as a proposed Illicit Art and Antiquities Trafficking Prevention Act (HR 5886), proposed to the US Congress’ House of Representatives last May (2018), is expected to be re-proposed to early this year (2019) ...
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