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Art Dealers Money Laundering

WilmerHale

Money Laundering In The UK Art Market: Key Risks, AML Rules

WilmerHale on

We have been writing a lot recently about trends in the global market for fine art. One specific area that deserves attention is steps taken to stamp out laundering illicit funds via the art market, such as through auctions...more

Cohen & Gresser LLP

Senate Report Exposes the U.S. Art Market as a Hotbed for Money-Laundering and U.S. Sanctions Evasion

Cohen & Gresser LLP on

A congressional report released on July 29, 2020, by the Senate’s Permanent Subcommittee on Investigations, exposes how Russian oligarchs looking to evade U.S. sanctions are able to exploit loopholes in the art industry....more

K2 Integrity

Art and AML: Regulators Taking a Broad Brush Approach Using Financial Entity Regulatory Compliance as the Model for the Art World

K2 Integrity on

What do people see when they look at a piece of fine art—such as a painting by Cezanne, a sculpture by Giacometti, or a three-dimensional combine by Rauschenberg? To a great extent, it depends on who’s doing the looking. An...more

McDermott Will & Emery

Trial of Art Dealer Accused of Tax Fraud and Money Laundering by French Tax Authorities Ends With Judgement of Acquittal

McDermott Will & Emery on

On 12 January, the Paris Criminal Court acquitted Guy Wildenstein, who was facing the possibility of two years in prison and a €250 million fine, and other members of his family as well as their trustees and advisors who were...more

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